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Efficient Recapitalization
Philippon, Thomas - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt … conditions implementation on sufficient bank participation. Preferred stock plus warrants reduces opportunistic participation by … aggregate credit risk exceed the cost of implicit transfers to bank debt holders …
Persistent link: https://www.econbiz.de/10013160157
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Individuals and Organizations as Sources of State Effectiveness
Best, Michael - 2017
How important are bureaucrats for the productivity of the state? And to what extent do the tradeoffs between different policies depend on the implementing bureaucrats' effectiveness? Using data on 16million public procurement purchases in Russia during 2011–2016, we show that over 40 percent...
Persistent link: https://www.econbiz.de/10012957383
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Fuzzy Frontiers of Production : Evidence of Persistent Inefficiency in Safety Expenditures
Ichniowski, Casey - 2021
This study documents a strong inverse relationship between accident rates and production in a sample of eleven firms in the same narrowly defined industry classification. Given the detailed set of input controls and controls for plant-specific and time-specific factors used in the analysis, the...
Persistent link: https://www.econbiz.de/10013236836
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Financial Constraints and Innovation : Why Poor Countries Don't Catch Up
Gorodnichenko, Yuriy - 2014
This paper examines micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey...
Persistent link: https://www.econbiz.de/10013070230
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Catch-Up and Fall-Back Through Innovation and Imitation
Benhabib, Jess - 2012
Will fast growing emerging economies sustain rapid growth rates until they "catch-up" to the technology frontier? Are there incentives for some developed countries to free-ride off of innovators and optimally "fallback" relative to the frontier? This paper models agents growing as a result of...
Persistent link: https://www.econbiz.de/10013106293
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Mismatch and Assimilation
Wang, Ping - 2018
frontier technologies balances such multi-dimensional factor input-technology mismatch, thus mitigating the efficiency loss …
Persistent link: https://www.econbiz.de/10012911691
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Learning from the Doers : Developing Country Lessons for Advanced Economy Growth
Chari, Anusha - 2014
From 1980 to 1992, emerging and developing countries grew by 3.4 percent per year. Their annual rate of growth increased to 5.4 percent between 1993 and 2012. No such increase occurred for advanced nations, whose average growth from 1980-2012 was roughly constant (excluding the impact of the...
Persistent link: https://www.econbiz.de/10013057831
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Global Business Cycles : Convergence or Decoupling?
Kose, M. Ayhan; Otrok, Chris; Prasad, Eswar S. - 2021
globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies … importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups …
Persistent link: https://www.econbiz.de/10013218837
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Why Doesn't Technology Flow from Rich to Poor Countries?
Cole, Harold L. - 2015
What determines the technology that a country adopts? While many factors affect technological adoption, the efficiency …
Persistent link: https://www.econbiz.de/10013030072
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Incentivizing Calculated Risk-Taking : Evidence from an Experiment with Commercial Bank Loan Officers
Cole, Shawn Allen - 2013
We use an experiment with commercial bank loan officers to test how performance based compensation affects risk …
Persistent link: https://www.econbiz.de/10013075422