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This paper empirically studies the role of fiscal constraints for disaster vulnerability and investment decisions in a … comovement, coupled with discussions on fiscal constraints risk during earnings conference calls. Pre-disaster, firms with larger … tangible capital and R&D. Our findings suggest that fiscal constraints affect long-term growth through a risk-based disaster …
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Formal conceptions of state capacity have mostly focused on indirect measures of state capacity – by, for instance, using the state's fiscal or extractive capacity as a proxy for its overall capacity. Yet, this input or extractive view of state capacity falls short, especially since...
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