Showing 1 - 10 of 1,286
An important strand of research in macro-finance investigates which factors impede enterprise investment, and … equilibrium model with heterogeneous firms whose capital investment decisions are distorted by red tape. We find that the …
Persistent link: https://www.econbiz.de/10014377422
The investment-intensive growth model of the People’s Republic of China (PRC) is often viewed as state-driven and … ultimately unsustainable. But largely unnoticed, a shift has taken place. This paper examines the changes in investment patterns … economy-wide data with various breakdown. Significant shifts in investment patterns across sectors and ownership forms have …
Persistent link: https://www.econbiz.de/10011698651
it driven by investment and capital accumulation. By 2014, gross capital formation had reached 46 percent of aggregate … expenditures. This paper documents the role of investment in driving economic growth in China, questions how much longer China can … sustain a relatively high investment rate, and examines the arguments that have been offered for an impending drastic …
Persistent link: https://www.econbiz.de/10011698663
In this paper, we apply a convex hull approach to counterfactual analysis of trade openness and growth. The experiments we choose evaluate the importance of trade openness for growth across African countries. Specifically, we ask the question what would happen if African countries were more...
Persistent link: https://www.econbiz.de/10010265984
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on …
Persistent link: https://www.econbiz.de/10010273809
This paper studies the formation of human capital and its transmission across generations when premature adult mortality is a salient feature of the demographic landscape, either permanently or in the form of a long-period wave that follows the outbreak of an epidemic. We establish several...
Persistent link: https://www.econbiz.de/10010263920
We use census data to show that structural transformation reflects a fundamental reallocation of labor from goods to services, instead of a relabelling that occurs when goods-producing firms outsource their in-house service production. The novelty of our approach is that it categorizes labor by...
Persistent link: https://www.econbiz.de/10013211114
capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising … investment production are substitutes, rather than strong complements as suggested by existing work. Hence, resources … endogenously reallocate toward the fastest growing producers of investment. Growth accounting exercises demonstrate that investment …
Persistent link: https://www.econbiz.de/10014348090
restructuring of the Federal Employment Agency in Germany (Hartz III labor market reform) for aggregate matching and unemployment … Employment Agency did not contribute to the decline in unemployment in Germany. By contrast, improved activation of unemployed …
Persistent link: https://www.econbiz.de/10014358809
Over the last decades, hours worked per capita have declined substantially in many OECD economies. Using a neoclassical growth model with endogenous work-leisure choice, we assess the role of trend growth slowdown in accounting for the decline in hours worked. In the model, a permanent reduction...
Persistent link: https://www.econbiz.de/10013222213