aggregate productivity growth during the socialist and reform periods in six transition economies. Modifying a standard … observed in market economies. Early in transition, faster reform is associated with larger contributions from reallocation, but …

, especially in societies with highly skewed distribution of ownership. We however argue that the success of CG reform would, in …. Using recent data from Russia for 2000-2008, we find that the introduction of corporate governance codes in Russia had …

set on innovation for a large number of Italian firms over the 1990's. There is evidence that banking development affects … the probability of process innovation, particularly for small firms and for firms in high(er) tech sectors and in sectors … more dependent upon external finance. The evidence for product innovation is weaker. There is also some evidence that …

aggregate productivity growth during the socialist and reform periods in six transition economies. Modifying a standard … observed in market economies. Early in transition, faster reform is associated with larger contributions from reallocation, but …

We study the implications of product market competition and investment for price setting, wage bargaining and thereby …

We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …

dynamics as investment conditions are similar. Our results are consistent with this hypothesis. Furthermore, there is no …

competitors. Because workers participate in the returns on investment while only firms bear the costs, investment is inefficiently … low. A binding minimum wage can achieve the first-best level of investment, both in the short run for a given number of …

role of rising rates of investment. Because labor reallocation across sectors, TFP growth at the sector level and … investment are all inter-related, simple growth decompositions that are often used in the literature are not appropriate for … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …

The empirical identification of non-linearities in investment relies on how investment is assumed to be separated into … investment which allows us to observe regime separation, an aspect of the data that is typically absent from previous empirical … concentrating investment in a single year. Moreover, there is evidence that investment is more sensitive to fundamentals in the high …