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The Rise and Decline of General Laws of Capitalism
Acemoglu, Daron - 2014
, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …
Persistent link: https://www.econbiz.de/10012457900
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Capital Flows in a Globalized World : The Role of Policies and Institutions
Alfaro, Laura - 2005
We describe the patterns of international capital flows in the period 1970 - 2000. We then examine the determinants of capital flows and capital flows volatility during this period. We find that institutional quality is an important determinant of capital flows. Historical determinants of...
Persistent link: https://www.econbiz.de/10012466976
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The Globalization of Angel Investments : Evidence across Countries
Lerner, Josh - 2015
This paper examines investments made by 13 angel groups across 21 countries. We compare applicants just above and below the funding cutoff and find that these angel investors have a positive impact on the growth, performance, and survival of firms as well as their follow-on fundraising. The...
Persistent link: https://www.econbiz.de/10012456863
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African Political Institutions and the Impact of Colonialism
Bolt, Jutta; Gardner, Leigh; Kohler, Jennifer; Paine, Jack - National Bureau of Economic Research - 2022
Conventional wisdom proposes deep historical roots for authoritarianism in Africa: either colonial "decentralized despotism" or enduring structural features. We present a new theoretical perspective. Africans sought autonomous local communities, which constrained precolonial rulers. Colonizers...
Persistent link: https://www.econbiz.de/10013435144
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A Model of Intangible Capital
Crouzet, Nicolas; Eberly, Janice C.; Eisfeldt, Andrea L.; … - National Bureau of Economic Research - 2022
We propose a model that starts from the premise that intangible capital needs to be stored on some medium --- software, patents, essential employees --- before it can be utilized in production. Storage implies that intangible capital may be partially non-rival within the firm, leading to scale...
Persistent link: https://www.econbiz.de/10013362030
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Domestic Institutions and the Bypass Effect of Financial Globalization
Ju, Jiandong - 2007
which financial globalization can be a substitute for reforms of domestic financial system. Inefficient financial system and … investment. While financial globalization always improves the welfare of a developed country with a good financial system, its … the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …
Persistent link: https://www.econbiz.de/10012465505
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Why Not Africa?
Freeman, Richard B. - 1999
Various arguments have been used to explain Sub-Saharan Africa's economic decline. We find that a stress on investments in education as a prerequisite for more rapid growth is misplaced; that greater openness is far from sufficient to insure economic progress; that income inequality and urban bias...
Persistent link: https://www.econbiz.de/10012471865
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Measuring the Location of Production in a World of Intangible Productive Assets, FDI, and Intrafirm Trade
Lipsey, Robert E. - 2008
As production comes to depend more on intangible productive assets, the location of production by multinational firms becomes increasingly ambiguous. The reason is that, within the firm, these assets have no clear geographical location, but only a nominal location determined by the firm's tax or...
Persistent link: https://www.econbiz.de/10012464523
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The Colonial Origins of Comparative Development : An Empirical Investigation
Acemoglu, Daron - 2000
We exploit differences in the mortality rates faced by European colonialists to estimate the effect of institutions on economic performance. Our argument is that Europeans adopted very different colonization policies in different colonies, with different associated institutions. The choice of...
Persistent link: https://www.econbiz.de/10012470979
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Institutions for High-Quality Growth : What They are and How to Acquire Them
Rodrik, Dani - 2000
This paper opens with a discussion of the types of institutions that allow markets to perform adequately. While we can identify in broad terms what these are, there is no unique mapping between markets and the non-market institutions that underpin them. The paper emphasizes the importance of...
Persistent link: https://www.econbiz.de/10012471235