By relying on a new dataset, this paper presents an econometric strategy to test the Fenoaltea’s thesis with regard to both the genesis of current account fluctuations and of the investment cycle. We perform a Granger causality test that shows that the persistent current account deficits in...

By relying on a new dataset, this paper presents an econometric strategy to test the Fenoaltea’s thesis with regard to both the genesis of current account fluctuations and of the investment cycle. We perform a Granger causality test that shows that the persistent current account deficits in...

This paper examines the technical efficiency and productivity of 81 firms of the Indian pharmaceutical industry. The study found that technical efficiency and productivity are higher in the product patent regime than in the process patent regime. The analysis of Malmquist productivity index...

Using firm-level data across developing countries, this paper estimates the effect of credit constraints on machinery and equipment imports (i.e. capital imports). We infer credit constraints from survey questions on the availability and cost of finance instead of relying on firms’ financial...

Nach dem Ende der Apartheidspolitik in Südafrika war das Land wegen der knappen Haushaltsmittel und der überwältigenden Strukturprobleme nicht in der Lage, mit substantiellen Eigenmitteln zur wirtschaftlichen Entwicklung der Nachbarländer beizutragen. Das, was der öffentliche Bereich...