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traditional partnership replaced by public companies. The organizational change has increased the competition for managerial … talent, which may have weakened the commitment between investors and managers. We show how increased competition and the …
Persistent link: https://www.econbiz.de/10013073564
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
financial crisis, as in Mexico in 1994, to a sharp decline in economic activity after a crisis occurs. It does so by outlining … inforamtion framework shows why the banking sector is so important to the economy, and provides a rationale for bank regulation …
Persistent link: https://www.econbiz.de/10012789112
Over the last three decades, Mexico has aggressively reformed its economy, opening to foreign trade and investment … been lackluster, trailing that of many other developing nations. In this paper, I review arguments for why Mexico hasn …. These are factors internal to Mexico. One possible external factor is that the country has the bad luck of exporting goods …
Persistent link: https://www.econbiz.de/10013137012
This paper examines the effect of Wal-Mart's entry into Mexico on Mexican manufacturers of consumer goods. Guided by … Mexico), or use traditional retailers. Walmex provides access to a larger market, but it puts continuous pressure on its …
Persistent link: https://www.econbiz.de/10013122643
This paper examines how sales force impact competition and equilibrium prices in the context of a privatized pension … market. We use detailed administrative data on fund manager choices and worker characteristics at the inception of Mexico … foster competition in social safety net markets with large segments of inelastic consumers …
Persistent link: https://www.econbiz.de/10013064396
Mexican manufacturing industry we find that indicators for local competition are positively related to the technology imports …
Persistent link: https://www.econbiz.de/10013233028
Does finance follow the real economy, or the other way around? This paper unites the two competing schools of thought in a general equilibrium framework. Our key result is that there are threshold effects defined by a set of deep institutional parameters (cost of financial intermediation,...
Persistent link: https://www.econbiz.de/10012759326
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
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