This book reveals the key importance, in terms of international competitiveness, of firms' capability to adapt to, and develop, new technologies. At the same time, the authors argue that the sheer complexity of emerging technologies is such that the knowledge involved in their creation is likely...

Die Ergebnisse der vorliegenden umfassenden Potenzialanalyse belegen, daß die Unternehmen in der Region Oberlausitz-Niederschlesien aufgrund der kleinteiligen Wirtschaftsstruktur nur über schwach ausgeprägte Innovationspotenziale verfügen. Hinzu kommt, daß mit Ausnahme der FuE-Potenziale an...

We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard. Mitigating financial frictions reduces the incentive of high-skilled workers to migrate to one region such that an unequal distribution of industrial activity becomes less...

This paper assesses two theories regarding the historical determinants of international differences in financial development. The law and finance theory holds that legal traditions differ in terms of the priority they attach to protecting the rights of private investors vis-a-vis the State and...