The article intends to provide a global vision of the broad and heterogeneous field of intangible capital and its different components and approaches. Some basic concepts are examined, such as those of intellectual, human or technological capital from a business and macroeconomic perspective....

Foreign investments contribute massively to the increase of business profitability. Attraction and efficient allocation of capital inflows (mainly in the form of high quality investment made at microeconomic level) represent the main "engine" for GDP growth in medium and long term. This will...

I develop a highly tractable general equilibrium model in which heterogeneous producers face collateral constraints, and study the effect of financial frictions on capital misallocation and aggregate productivity. My economy is isomorphic to a Solow model but with time-varying TFP. I argue that...

We present new data on effective corporate income tax rates in 85 countries in 2004. The data come from a survey, conducted jointly with PricewaterhouseCoopers, of all taxes imposed on "the same" standardized mid-size domestic firm. In a cross-section of countries, our estimates of the effective...

We show that the behavior of entrepreneurs facing incomplete financial markets and risky investment can explain why accelerations of productivity growth in developing countries tend to be associated with current account improvements. Under uninsurable investment risk, entrepreneurs have to...

This paper studies the joint dynamics of investor protection and economic development in a political economy model with capital accumulation and occupational choice. Less investor protection implies higher costs of external financing for entrepreneurs. This excludes poorer agents from...

Social capital plays a crucial role in the development processes of every country. Diyarbakýr, a metropolitan city in Turkey, and her hinterland had always been – and still is – one of the most developed centers of Anatolia and Middle East. But the city is experiencing a continual relapse...

Recent papers argue that the misallocation of resources can explain large cross-country TFP differences. This argument is underpinned by empirical evidence documenting substantial dispersion in the marginal products of resources, particularly capital, in developing countries. But why does...