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We put forward a modern version of the 'developmental' view of government-owned banks which shows that the combination of information asymmetries and weak institutions creates scope for such banks to play a growth-promoting role. We present new cross-country evidence consistent with our...
Persistent link: https://www.econbiz.de/10012040740
We show that previous results suggesting that government ownership of banks is associated with lower long run growth rates are not robust to adding more 'fundamental' determinants of economic growth. We also present new cross-country evidence for 1995-2007 which suggests that, if anything,...
Persistent link: https://www.econbiz.de/10003951766
Persistent link: https://www.econbiz.de/10003577722
In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in Phillips' tradition. For this purpose we apply FMOLS, DOLS, PMGE, MGE, DFE, and VECM methods to a nonstationary heterogeneous dynamic panel including annual data for 119...
Persistent link: https://www.econbiz.de/10009487899
Wirtschaftswachstum einhellig auch im Rahmen eines Nachhaltigkeitsparadigmas für möglich gehalten wurde, kamen die Teilnehmer überwiegend … zu der Einschätzung, daß eine Lösung der wesentlichen Zukunftsprobleme auch bei fehlendem Wirtschaftswachstum möglich ist. …
Persistent link: https://www.econbiz.de/10011432355
We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can...
Persistent link: https://www.econbiz.de/10010225571
The relationship between per capita income and a number of pollution indicators has been found to display an inverted U-shaped or downward-sloping pattern. Corruption may affect this relationship in two distinct ways: by raising pollution at given income levels (direct effect) and by reducing...
Persistent link: https://www.econbiz.de/10011438821
This paper investigates the impact of new firms' quality on the magnitude of their employment effects. Our results clearly show that the quality of start-ups, measured by their affiliation with sectors and innovative industries, strongly influences the direct and the overall employment...
Persistent link: https://www.econbiz.de/10009427856
job creation, expansion and innovation activities for up to 40 months after business formation. Using self … better, the higher they score on this index. E↵ects are particu-larly strong for growth oriented outcomes like innovation and … ambition, and necessity. We show that individuals driven by opportunity motives perform better in terms of innovation and …
Persistent link: https://www.econbiz.de/10013466552
The article argues that IT continues to have strategic relevance for companies because it enables innovation. A … conceptual link between the adoption of IT and innovation is established. This conceptual link allows a market-based, economic … explanation for variations in IT payoffs among firms: The successful adoption of new IT leads to innovation. Depending on the …
Persistent link: https://www.econbiz.de/10002927900