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We study the demand for government participation in China's venture capital and private equity market. We conduct a …
Persistent link: https://www.econbiz.de/10013334380
- can significantly affect the efficacy of industrial policy. We investigate this idea in the context of China's largest pro …
Persistent link: https://www.econbiz.de/10014250195
, primarily, but not exclusively, fostering industrialization. We discuss the thin, but growing literature that evaluates the …
Persistent link: https://www.econbiz.de/10014372493
We examine the ways in which political realities shape industrial policy through the lens of modern political economy. We consider two broad "governance constraints": i) the political forces that shape how industrial policy is chosen and ii) the ways in which state capacity affects...
Persistent link: https://www.econbiz.de/10014544785
How should industrial policies be directed to reduce distortions and foster economic development? We study this question in a multi-sector model with technology adoption, where the production of goods and modern technologies features rich network structures. We provide simple formulas for the...
Persistent link: https://www.econbiz.de/10014512084
that raise the marginal productivity of labor and/or when there is sufficient additional hiring in complementary sectors …. Wages are unlikely to rise when workers cannot push for their share of productivity growth. Today, artificial intelligence … may boost average productivity, but it also may replace many workers while degrading job quality for those who remain …
Persistent link: https://www.econbiz.de/10014544695
required lower fixed costs and therefore was attractive to relatively low productivity entrants. These entrants then became … incumbents, locked into water power even if their productivity grew …
Persistent link: https://www.econbiz.de/10014528423
revolution began, however, several decades passed before measured productivity growth increased. This delay is paradoxical from …
Persistent link: https://www.econbiz.de/10012470039
after the onset of French industrialization. Alternative measures of development such as soldier height, disposable income … firm survey from the 1840s, we shed light on the mechanism: upper-tail knowledge raised productivity in innovative …
Persistent link: https://www.econbiz.de/10012458447
Why did per capita income divergence occur so dramatically during the 19th Century, rather than at the outset of the Industrial Revolution? How were some countries able to reverse this trend during the globalization of the late 20th Century? To answer these questions, this paper develops a...
Persistent link: https://www.econbiz.de/10012479692