The book explains the problem of insufficient capital accumulation and growth in a less developed country. In conventional analyses, such explanations are often found exogenised in terms of factors such as socio-cultural attitudes towards saving and investment, irrationality of peasant...

This book offers a novel perspective that allows to incorporate changing consumption and production structure into models of economic growth. Starting from the empirical observation that income and consumption structure are closely related, it develops a tractable theoretical framework which...

Traditionelle Derivatbewertung -- Bewertung auf unvollständigen Märkten -- Wachstumsmaximierung -- Wachstumsorientierte Portfolioplanung -- Wachstumsorientierte Bewertung -- Wachstumsorientierte Reservationspreise -- Zusammenfassung.

This book provides an empirical and theoretical examination of the short- and medium run impacts of technological advances on the employment and wages of workers which differ in their earned educational degree. Furthermore, by introducing labor market frictions and wage setting institutions the...

Over the last decades, technological progress has brought about a multitude of standardization problems. For instance, compatibility standards ensure the interoperability of goods, which is of decisive importance when users face positive externalities in consumption. Consumers' expectations are...

Services from information technology to research to finance are now as subject to international trade as goods have been for decades. What are the labor market consequences of the recent surge in services offshoring? While offshoring has traditionally been found to affect only less-skilled...

Presents the results of an empirical investigation of the behaviour of Hungarian firms during the transition process focusing in particular on the role of financial market imperfections for corporate capital structure and investment decisions

The emphasis of this book is on understanding special characteristics of the financial systems of emerging markets, where the existence of market imperfections such as asymmetric information, adverse selection and moral hazard can cause financial market failures. Considering the Thai stock...