A model in which agents on both sides of the market are subject to informational cascades isexamined. In an uncertain environment with asymmetric information agents tend to beoveroptimistic about the state of the world, a result that fits with empirical evidence on financingnew technologies....

This paper examines the link between structural change between and within industries. We analyse the influence of sector specific developments in productivity and demand on net entry and employment in 19 industrial sectors of the Austrian economy. Based on the model of structural dynamics of...

In this paper we analyse the cognitive roots of the division of labour and relate it to the reduction of tacitness in the organisation and technology of a firm. We study the interaction between efforts of knowledge codification and problems of control in production from an evolutionary and...

The current study examines the relationships between several home country-specific macroeconomic factors and the level of the outward FDI of China and India using multiple time-series data from 1982 to 2006 and from 1980 to 2006, respectively. With the use of a vector autoregressive model...

A substantial literature has examined the determinants of support for democracy and although existing work has found a gender gap in democratic attitudes, there have been no attempts to explain it. In this paper we try to understand why females are less supportive of democracy than males in a...

This paper looks at the special characteristics of radical inventions. It tries to identify those variables that differentiate radical inventions from non-radical inventions. Since radical inventions are very important for the economy as a whole and for the individual firm performances,...

After presenting the history, the evolution and the content of innovation surveys, we discuss the characteristics of the data they contain and the challenge they pose to the analyst and the econometrician. We document the two uses that have been made of these data: the construction of...

What really makes an economy competitive? This paper reviews and discusses how the capacity to generate, exploit and diffuse new knowledge is key in enabling countries to capitalise on challenges brought about by rapid technology-driven transformations rather than succumb to their adverse...

Although the literature converges regarding the reasons why and how networks of technology alliances are formed, there is still lack of agreement on what constitutes an optimal network structure, once it has been formed. The aim of this paper is to fill this void and to determine what...

Access to energy is fundamental to improving quality of life and is a key imperative for economic development" (Energy Poverty Action). This is particularly true in Central Asia where winters are harsh and long. Changes in energy prices affect the purchasing power of households, hitting the poor...