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Setting Standards: Information Accumulation in Development
Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1997
This paper proposes a model in which economic relations and institutions in advanced and less-developed economies differ as these societies have access to different amounts of information. This lack of information makes it hard to give the right incentives to managers and entrepreneurs. We argue...
Persistent link: https://www.econbiz.de/10005667121
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Was Prometheus Unbound by Chance? Risk, Diversification and Growth
Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996
This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and … growth. At early stages of development, the presence of indivisible projects limits the degree of risk … inability to diversify idiosyncratic risks introduces high uncertainty in the growth process. The typical development pattern …
Persistent link: https://www.econbiz.de/10005124312
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Agency Costs in the Process of Development
Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 1996
early stages of development, the range of projects and the amount of information are limited and agency costs are high … investigation of the development of financial institutions. We contrast the information aggregation role of stock markets and … information production role of banks. Because the amount of available information increases with development, our model predicts …
Persistent link: https://www.econbiz.de/10005136536
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Productivity Differences
Acemoglu, Daron; Zilibotti, Fabrizio - Institute for International Economic Studies (IIES), … - 1998
Many technologies used by the LDCs are developed in the OECD economies, and as such, are used to make optimal use of the skills of these richer countries' workforces. Due to differences in the supply of skills, some of tasks performed by skilled workers in the OECD economies will be carried out...
Persistent link: https://www.econbiz.de/10005648718
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Information Accumulation in Development
Acemoglu, Daron; Zilibotti, Fabrizio - Institute for International Economic Studies (IIES), … - 1998
development, the share of financial intermediation carried out through market institutions should increase. …
Persistent link: https://www.econbiz.de/10005648754
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Agency costs in the process of development
Acemoglu, Daron; Zilibotti, Fabrizio - Institute for International Economic Studies (IIES), … - 1997
early stages of development, the range of projects and the amount of information are limited and agency costs are high … investigation of the development of financial institutions. We contrast the information aggregation role of stock markets and … information production role of banks. Because the amount of available information increases with development, our model predicts …
Persistent link: https://www.econbiz.de/10005648811
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Productivity Differences
Acemoglu, Daron; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2000
Many technologies used by the LDCs are developed in the OECD economies and are designed to make optimal use of the skills of these richer countries' workforces. Differences in the supply of skills create a mismatch between the requirements of these technologies and the skills of LDC workers, and...
Persistent link: https://www.econbiz.de/10005114308