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fixed investment that became excessive and proved to be unsustainable, while the productivity acceleration helps to account … productivity growth linked to the delayed effects of previously invented 'general purpose technologies' stimulated an increase in …-01 collapse of investment and the stock market proves that good public policy matters, going beyond the narrowly defined …
Persistent link: https://www.econbiz.de/10005792478
Business support policies designed to raise productivity and employment are common worldwide, but rigorous micro … positive program treatment effect on employment, investment and net entry but not on TFP. OLS underestimates program effects …,300 suggesting that in some respects investment subsidies can be cost effective. …
Persistent link: https://www.econbiz.de/10011084352
This paper provides a theoretical and empirical analysis of the role played by domestic political incentives in the accumulation of large external debts by developing countries between 1972 and 1981. The theoretical model characterizes two equilibrium regimes. In one the borrower is on its...
Persistent link: https://www.econbiz.de/10005504639
privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier …
Persistent link: https://www.econbiz.de/10005792168
the context of a postulated change in the rate of increase of total factor productivity, we show that the convergence …
Persistent link: https://www.econbiz.de/10004971314
The 1980s have seen the beginnings of a change of heart among developing country policymakers, as the import-substitution consensus of the previous decade has all but evaporated. It is paradoxical that the 1980s should have become the decade of trade liberalization in LDCs, since this has also...
Persistent link: https://www.econbiz.de/10005281315
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567
us to reject this view. In fact, a net capital inflow made possible to meet the demand for investment boosting economic …
Persistent link: https://www.econbiz.de/10008458296
This Paper documents four basic facts about investment goods and investment prices. First, investment has a very …, and transportation) are much less important for investment than for consumption. Third, the import content of investment …
Persistent link: https://www.econbiz.de/10005662174