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In this paper we claim that distance alone is a poor proxy for international transport costs in empirical studies. We model a manufacturing and a transport sector and let the level of manufacturing exports determine the demand for transport services. Above a particular trade level, transport...
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switching regression models (SRM) incorporating a predicted corporate efficiency index are estimated in this paper in an effort …'s constrained credit status changes with the improvement of its efficiency. The results further reveal that financially constrained … related with corporate efficiency. These results point to the fact that high investment sensitivity to cash flow may not be …
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