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The value of business networks in emerging economies : an analysis of firms' external financing opportunities
Owolabi, Oluwarotimi; Pal, Sarmistha - 2011
The paper argues that networked firms are likely to have an advantage in securing external finance in countries with weak legal and judicial institutions since it helps financial institutions to minimize the underlying agency costs of lending. An analysis of recent BEEPS data from fifteen...
Persistent link: https://www.econbiz.de/10009307402
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
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Business cycle effects of credit and technology shocks in a DSGE model with firm defaults
Pesaran, M. Hashem; Xu, TengTeng - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …
Persistent link: https://www.econbiz.de/10009488413
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Co-authorship and academic productivity in economics : interaction maps from the complex networks approach
Molina, José Alberto; Alcolea, Alberto; Ferrer, Alfredo; … - 2016
We explore the relationship between collaborations in writing papers and the academic productivity of economists and, particularly, we describe the magnitude and intensity of co-authorship among economists. To that end, we employ interaction maps from Complex Systems methods to study the global...
Persistent link: https://www.econbiz.de/10011494082
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The role of social networks in cultural assimilation
Verdier, Thierry; Zenou, Yves - 2015
We develop a model where, in the first stage, minority individuals have to decide whether or not they want to assimilate to the majority culture while, in the second stage, all individuals (both from the majority and the minority group) embedded in a network have to decide how much effort they...
Persistent link: https://www.econbiz.de/10011336962
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Determinants and policy simulation of firms cooperation in innovation
Heshmati, Almas; Lenz-Cesar, Flávio - 2013
This research introduces an agent-based simulation model representing the dynamic processes of cooperative R&D in the manufacturing sector of South Korea. Firms' behavior is defined according to empirical findings on the Korean Innovation Survey 2005 and captured in a multivariate probit...
Persistent link: https://www.econbiz.de/10009766256
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Experimental games on networks : underpinnings of behavior and equilibrium selection
Charness, Gary; Feri, Francesco; Meléndez-Jiménez, … - 2014
In this paper, we describe a series of laboratory experiments that implement specific examples of a more general network structure and we examine equilibrium selection. Specifically, actions are either strategic substitutes or strategic complements, and participants have either complete or...
Persistent link: https://www.econbiz.de/10010344833
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Some challenges in the empirics of the effects of networks
Boucher, Vincent; Fortin, Bernard - 2015
We study some recent developments and challenges in the empirics of the effects of social networks. We focus in particular on researchers' ability to make policy recommendations based on a standard linear econometric model. We examine the potential compatibility between this type of econometric...
Persistent link: https://www.econbiz.de/10010489618
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Do interventions change the network? : a panel peer-effect model accounting for endogenous network changes
Comola, Margherita; Prina, Silvia - 2014
A large literature has studied how peers affect behavior by exploiting the preexisting social network structure only. What if networks rewire in response to changes in the economic environment, such as a randomized intervention? We exploit a unique panel dataset that contains detailed...
Persistent link: https://www.econbiz.de/10010436162
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The formation of networks in the diaspora
Epstein, Gil S.; Heizler, Odelia - 2016
In this paper, we examine possible types of network formation among immigrants in the diaspora and between those immigrants and the locals in different countries. We present the model by considering different possible interactions between immigrants and the new society in their host country....
Persistent link: https://www.econbiz.de/10011452743