Showing 1 - 10 of 906
We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual-level, idiosyncratic risk implies that distinct...
Persistent link: https://www.econbiz.de/10010278525
Even before the onset of the 2008 global financial crisis and ongoing European debt crisis, much attention has been given to the re-emergence of the Asian giants, the People's Republic of China (PRC) and India. Both countries have attained unprecedented growth and economic development-PRC and...
Persistent link: https://www.econbiz.de/10011444894
We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual-level, idiosyncratic risk implies that distinct...
Persistent link: https://www.econbiz.de/10009235154
We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual-level, idiosyncratic risk implies that distinct...
Persistent link: https://www.econbiz.de/10013127725
There is a significant body of literature arguing that institutional quality is the key for long run economic growth and development. While the majority of these studies are based on cross-country growth regression, in our paper, we focus on the institution-economic growth nexus within a...
Persistent link: https://www.econbiz.de/10012205955
Even before the onset of the 2008 global financial crisis and ongoing European debt crisis, much attention has been given to the re-emergence of the Asian giants, the People's Republic of China (PRC) and India. Both countries have attained unprecedented growth and economic development — PRC...
Persistent link: https://www.econbiz.de/10012995197
An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold of around 12¾ percent, real GDP per capita increases sharply and in a sustained manner over the following decade. In this paper, we attempt via four case studies - Spain, China,...
Persistent link: https://www.econbiz.de/10012965070
The institutional foundation of economic growth extends beyond institutions that limit the grabbing hand of the state and effectively enforce contracts. Growth predicates on social institutions that foster the development and use of productivity-enhancing knowledge. In particular,...
Persistent link: https://www.econbiz.de/10014184873
Intangible knowledge capital (IKC) - technology produced by workers but not embodied in them - can offset the middle income trap as China exhausts the benefits of international technology transfer. IKC is productivity-enhancing among Chinese enterprises - more so in domestically owned than in...
Persistent link: https://www.econbiz.de/10010329064
Schumepterian growth theory stresses the role of structural change in long run growth. Countries which increase the share of technology-intensive sectors in their economic structures benefit more from technological learning and innovation. In addition, they are more able to respond to changes in...
Persistent link: https://www.econbiz.de/10010273506