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Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of reaching the right tails of the firm size and...
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The paper sets up a two-region endogenous growth model to discuss growth and regional convergence of unified Germany … consistent with the data on government spending in East and West Germany after unification the model suggests that East Germany … will reach eighty percent of West Germany's income per capita between 20 and 30 years after unification and that actual …
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In this paper we investigate the effects of tax competition in a simple endogenous growth model with elastic labor supply. Our analysis focuses on two issues. First, we show that all taxes, i.e. on capital, labor, and consumption, are harmful for growth. Second, we derive the optimal tax policy....
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