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Can stock market bubbles accelerate long term growth? Do such bubbles indicate irrational behavior? This paper studies the effect of innovation uncertainty on the concomitant time path of firm valuations, technology adoption and growth in a setting that incorporates positive network...
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The dynamics of the digital economy in the US, Europe and Japan are rather different. Some EU countries come close to … the USA as the leading OECD country in the new economy, but Japan faces particular problems in catching-up digitally …
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devices. Smartphones’ independence of landline networks qualifies them for communication and Internet access in rural areas of …
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