Showing 1 - 8 of 8
This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why growth accelerations in developing countries tend to be associated with current account improvements. The uninsurable risk of losing invested capital forces entrepreneurs...
Persistent link: https://www.econbiz.de/10008519499
This paper analyzes the dynamic interactions between the precision of information, technological development, and welfare within an overlapping generations model. More precise information about idiosyncratic production shocks has ambiguous effects on technological progress and welfare, which...
Persistent link: https://www.econbiz.de/10005825975
Standard theoretical arguments tell us that countries with relatively little capital benefit from financial integration as foreign capital flows in and speeds up the process of income convergence. We show in a calibrated neoclassical model that conventionally measured welfare gains from this...
Persistent link: https://www.econbiz.de/10005605034
This research studies the dynamic interplay between the evolution of cultural traits and the process of economic development. In particular, this paper shows how cultural attitudes, in this case differences in risk attitudes, influence economic decision making while at the same time illustrating...
Persistent link: https://www.econbiz.de/10005696733
Entrepreneurship is largely ignored or treated in a highly simplified way in endogenous growth theory. Still, it is now … creation. In this study we provide an in-depth examination of how the supply of productive entrepreneurship is likely to be … intrapreneurship can substitute for entrepreneurship. However, in an environment where entry, exit and turnover of firms are important …
Persistent link: https://www.econbiz.de/10005190883
Entrepreneurship is largely ignored or treated in a highly simplified way in endogenous growth theory. Still, it is now … creation. This study consists of an in-depth examination of how the supply of productive entrepreneurship is likely to be … institutions have systematically reduced economic incentives both for opportunity-based and necessity entrepreneurship. Both …
Persistent link: https://www.econbiz.de/10005649310
This paper proposes a tractable Sudden Stop model to explain the main patterns in firm level data in a sample of Southeast Asian firms during the Asian crisis. The model, which features trend shocks and financial frictions, is able to generate the main patterns observed in the sample during and...
Persistent link: https://www.econbiz.de/10008646413
We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values, capital mobility has a large impact on income growth.
Persistent link: https://www.econbiz.de/10008520310