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To date there has been few systematic and comparative empirical analyses of the nature of economic development in Brazil, Russia, India, China and South Africa (BRICS). We contribute to addressing this gap by exploring the patterns of structural change between 1980 and 2010, focusing on the...
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We refine modelling of the radical innovation decision in this paper by extending real option theory to include non … stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …
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