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This paper empirically studies the impact of decentralization on foreign aid effectiveness. For this purpose, we examine a commonly used empirical growth model, considering aid modality as well as different measures of political and fiscal decentralization. Our panel estimations reveal that...
Persistent link: https://www.econbiz.de/10003966487
In this study, we analyze the cyclicality of fiscal policies in China during the period 1978-2013. We find that the … cyclicality of local government spending in China significantly affects the cyclicality of total government spending. By employing …
Persistent link: https://www.econbiz.de/10011342322
What is the social value of innovations in Schumpeterian growth models? This issue is tackled by introducing the concept of Lindahl equilibrium in a standard endogenous growth model with vertical innovations which is extended by explicitly considering knowledge diffusion on a Salop (1979)...
Persistent link: https://www.econbiz.de/10010252161
We analyze the role of electricity storage for technological innovations in electricity generation. We propose a directed technological change model of the electricity sector, where innovative firms develop better electricity storage solutions, which affect not only the relative competitiveness...
Persistent link: https://www.econbiz.de/10011497793
The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists not only finance but also advise start-up entrepreneurs and thereby add value to new firms. The paper demonstrates how a productive and active VC industry boosts innovation...
Persistent link: https://www.econbiz.de/10011409024
We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly improve upon frontier technologies, and productivity improvements are drawn in a stochastic manner. The presence of positive knowledge spillovers implies that the decentralized...
Persistent link: https://www.econbiz.de/10010189836
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10003791799
By merging individual data on valuable patents granted in Prussia in the late nineteenth century with county level information on literacy and income tax revenues we show that increases in the stock of human capital not only improved workers ́productivity but also accelerated innovative...
Persistent link: https://www.econbiz.de/10009792180
This paper offers the first systematic historical evidence on the role of a central actor in modern growth theory - the engineer. It collects cross-country and state level data on the labor share of engineers for the Americas, and county level data on engineering and patenting for the US during...
Persistent link: https://www.econbiz.de/10011602763
Persistent link: https://www.econbiz.de/10003712570