Entry is widely discussed, but rarely subjected to empirical study. This study develops a competitive theory of entry, with primary focus on the relationship between entry and industry growth. The main ingredients are adjustment coats to firms already in the industry and the distribution of...

Time was when solar energy was facilely dismissed as impractical, inefficient, and pricey. In recent years, however, innovations in technology, regulation, and financing have resulted in remarkable efficiency improvements and price reductions, thereby reversing the skepticism about this...

This paper relates economic development to transaction costs. It reveals the triad transaction costs-market failure-economic underdevelopment. Many scholars attribute the problems of development to the failure of markets to perform their role of resource allocation. Some deny market failure and...

There are different factors for obtaining economic development. In contemporary economics, knowledge and intellectual capital have become necessary for achieving economic development. Management and development of intellectual capital bring benefits and advance the economy. The main aim of the...

This paper studies the persistent impact of good institutions on economic development in China. By exploiting a British-driven institutional switch in part of China's customs stations in 1902, I find that counties that were more affected by the British customs institutions are also better...

This paper studies the effects of teenage motherhood on later educational and labor market achievement of the mothers. We construct a pseudo panel from the Brazilian Household Surveys (the 1992–2004 PNADs) and from the Health Ministry data (DATASUS 1981–1992) by state of birth and cohort. We...

This paper studies the persistent impact of good institutions on economic development in China. By exploiting a British-driven institutional switch in part of China's customs stations in 1902, I find that counties that were more affected by the British customs institutions are also better...

Over time the international development community has advocated various development paradigms, but countries following these paradigms have often performed poorly. I provide an explanation for this poor performance. In my model the political leader of a developing country chooses a policy and...