a consumption good (consumption model) or as a mean to increase individual’s own human capital (investment model). We … find strong statistical evidence for the investment model with a highly robust and significant impact of volunteering on … volunteering amounts up to 15.7 percent. Within the framework of the investment model it turns out that the number of volunteering …

lower average personnel costs being more likely to experience any input spike. And the strongly regulated labor market in …

Has financial liberalization improved the efficiency with which investment funds are allocated to competing uses? In … of the efficiency of investment allocation that measures whether, and to what extent, investment funds are going to firms … efficiency with which investment funds are allocated. …

,` usually identified as a low rate of investment in research and development (RD) compared with some high-innovation countries …. The usual reaction to this perceived problem is to call for increases in RD investment rates, usually specifying a target … that can be as high as 3 percent of GDP. The problem with this analysis is that it fails to see that a low RD investment …

history. In this paper we analyze how this affects firms' incentives to invest in quality when the outcome of investment is …, makes investment less attractive. This discourages investment, leading to lower quality. We show that reducing the search …