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The capital structure of firms that face restrictions on liquidity (i.e. that cannot hedge continuously) is affected by the agency costs and moral-hazard implicit in the contracts they establish with stockholders and customers. It is demonstrated in this paper that then an optimal level of...
Persistent link: https://www.econbiz.de/10013159445
married to the idea of development banking in the 1950s and 1960s but have liberalized the economy since then, to understand …
Persistent link: https://www.econbiz.de/10008833279
behaviour of the last 20 years in China. Six case studies of technological learning and links to external sources of know …-how from the South of China in the Pearl River Delta are examined. It is shown that the learning process that has been … South China lies in this ‘external’ interactive technological learning, as in other East Asian economies. …
Persistent link: https://www.econbiz.de/10008472239
of the economic system in China. By using the theory of endogenous ownership arrangements developed in Tian (1995), a … three stage method of China’s economic reform will be provided. It will be shown that a smooth institutional transition to a … market economy needs to go through three stages: (1) economic liberalization; (2) marketization; and (3) privatization. In …
Persistent link: https://www.econbiz.de/10011258459
addition to other macroeconomic indicators show a high risk of investing in the entire economy, as well as in agriculture, as …Investments in the economy are the basic driver of economic development of the country, or areas where the investment … one of the most important sectors of the Serbian economy. Given the importance of this investment research has focused on …
Persistent link: https://www.econbiz.de/10011260781
Manipur is one of the eight states in North-East India. The economy of the state is primarily dependent on agriculture … total workforce in Manipur. Other sectors which contribute to the economy of the state are allied activities of agriculture …
Persistent link: https://www.econbiz.de/10011113052
the People’s Republic of China (PRC). Using an economy-wide, global computable general equilibrium model, this paper … that with the anticipated decline in agriculture share of gross domestic product, the impact of climate change on the PRC …’s macro economy will be moderate. The food processing subsectors are predicted to bear the brunt of losses from the …
Persistent link: https://www.econbiz.de/10008592973
Agriculture sector plays a vital role in the world economy and provides food for every one of us. The World Trade … Organization (WTO) is important body in the international trade and agriculture. Surprisingly, the Agreement on Agriculture (AoA …) of WTO does not refer to food and agriculture at all. Agricultural subsidies and trade become controversial issues in the …
Persistent link: https://www.econbiz.de/10005617135
As an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was … control inflation and to maintain financial stability as the government transforms itself from a planned economy to a mixed … market economy. The transforming economy is moving toward a free market system through series of economic reforms. The …
Persistent link: https://www.econbiz.de/10009323474
establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps … in marginal products of labor and capital across plants within narrowly defined industries in China and India compared … observed in the United States, we calculate manufacturing TFP gains of 30%–50% in China and 40%–60% in India. …
Persistent link: https://www.econbiz.de/10009372619