Gerschenkron (1962) argued that public institutions such as the State Bank of the Russian Empire spurred the country's industrialization. We test this assertion by exploiting plant-level variation in access to State Bank branches using a unique geocoded factory data set. Employing an...

In order to prepare and employ naval power and contribute to national defense, the Brazilian Navy, through its programs and projects, seeks to develop means of implementation of naval war operations and actions suitable for its main tasks - sea denial and control, and power projection. A...

Brazil is a country with a maritime vocation, whose development is intrinsically associated with the sea. The Brazilian coast and jurisdictional waters' extension constitute a challenge on themselves to the national defense. The presence of fundamental potentialities for the country, such as...

National Defense requires adequately trained, prepared and equipped armed forces to perform in guaranteeing national interests and protect sovereignty. Regarding the issue of equipping - which is the main focus of the three forces' (Navy, Army, and Air Force) strategic programs - it is not...

The Flemish government launched its Spearhead Cluster (SHC) policy in 2017. The aim is to boost strategic sectors by setting up cluster initiatives which coordinate collaborative R&D initiatives. In this paper, we analyze whether becoming a member of such a cluster initiative has an impact on...

Since the mid-1970s, firm entry rates in the United States have declined significantly. This also holds for other OECD countries over the past years. At the same time, these economies experienced a gradual process of population aging. Applying a tractable life-cycle model with endogenous firm...

Most of the European Member States employ anti-loss trafficking rules. They aim to prevent the acquisition of mere corporate shells with high tax loss carryforwards for the tax asset to be utilized in profitable companies. However, other corporations can unintentionally be affected by the...

What are the macroeconomic implications of re-allocating taxing rights away from source countries (where goods are produced) to market countries (where goods are consumed) and introducing minimum rates in international profit taxation? We assess this question in a dynamic macroeconomic model...

Digital therapeutics are increasingly used to complement traditional health care. In a pioneering move, Germany became the first country to introduce a structured regulatory framework — known as the DiGA scheme — that enables developers of digital therapeutics to be reimbursed in the...

Although information and communication technologies (ICT) consume energy themselves, they are considered to have the potential to reduce overall energy intensity within economic sectors. While previous empirical evidence is based on aggregated data, this is the first large-scale empirical study...