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This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and … positive feedback between early capital market development and investment in infrastructure innovations that lowered system …-wide transaction costs has been a critical factor in sustaining growth since 1800. The paper sets out a model of infrastructure …
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The government wants an infrastructure-based public service to be provided. First, the infrastructure has to be built …
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This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy's rate of technological change. We incorporate results of...
Persistent link: https://www.econbiz.de/10003924192
This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy's rate of technological change. We incorporate results of...
Persistent link: https://www.econbiz.de/10010267225
Persistent link: https://www.econbiz.de/10011449057
I investigate a simple model of advance-purchase contracts as a mode of financing costly projects. The analysis can easily be reinterpreted as a model of the monopolistic provision of excludable public goods under private information. An entrepreneur has to meet some capital requirement in order...
Persistent link: https://www.econbiz.de/10011350183