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Does the instability of economic development affect the elasticity of the labour market?
Daňová, Monika; Vozárová, Ivana Kravčáková - In: Národohospodářský obzor : časopis věnovaný … 21 (2021) 3, pp. 291-308
Despite extensive research, the estimates of changes in employment are heter-ogeneous in different conditions of … employment elasticity compared to its values in economies with a stable development trend. Based on this, we formulate the …
Persistent link: https://www.econbiz.de/10012651347
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Undervaluation, Financial Development, and Economic Growth
Zou, Jingxian - 2017
This paper analyzes the effect of undervaluation on economic growth in the presence of borrowing constraints. Based on a two-sector, small open-economy model, we show that undervaluation can promote economic growth by partly correcting distortions in financial markets through the channels of...
Persistent link: https://www.econbiz.de/10012961372
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Revisiting the volatility-growth relationship : some cross country evidence : 1978-2017
Raju, Y. N.; Acharya, Debashis - In: Cogent economics & finance 8 (2020) 1, pp. 1-23
This paper attempts a re-examination of the relationship between the output volatility and economic growth using an annual data set for select 67 countries for the period 1978 to 2017 spanning over 40 years. Towards this objective cross section and panel, regressions are estimated for different...
Persistent link: https://www.econbiz.de/10013179618
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Risk Sharing and Industrial Specialization : Regional and International Evidence
Sørensen, Bent E.; Kalemli-Ozcan, Sebnem; Yosha, Oved - 2008
We provide empirical evidence that risk sharing enhances specialization in production. First, we calculate an index of specialization for each of the European Community (EC) and non-EC OECD countries, U.S. states, Canadian provinces, Japanese prefectures, Latin American countries, and regions of...
Persistent link: https://www.econbiz.de/10014129968
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Institutions, the cost of capital, and long-run economic growth : evidence from the 19th century capital market
Alquist, Ron; Cha, Ben - 2012
Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
Persistent link: https://www.econbiz.de/10009674872
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Institutions, the Cost of Capital, and Long-Run Economic Growth : Evidence from the 19th Century Capital Market
Alquist, Ron - 2012
Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
Persistent link: https://www.econbiz.de/10013096390
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Specialization and Welfare in the Presence of Imperfectly Integrated Capital Markets and Learning-by-Doing
Hodler, Roland - 2008
We study a two-sector, two-period model with learning externalities in the modern sector and imperfectly integrated capital markets. We find that higher capital market integration lowers the requirements on the learning pattern necessary for free trade to lead to an equilibrium with maximal...
Persistent link: https://www.econbiz.de/10014220345
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Structural change, open economy and employment : a structural change and economic dynamics approach
Acypreste, Rafael de; Oliveira, João Gabriel de Araujo - In: PSL quarterly review 75 (2022) 300, pp. 47-62
The main objective of this paper is to analyse the effects of international trade on employment, focusing particularly … basic structure of analysis. It is shown that technological progress affects employment levels through the Kaldor … affect employment levels, supporting heterodox views regarding trade openness. …
Persistent link: https://www.econbiz.de/10013175170
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Political Risk and International Valuation
Bekaert, Geert - 2015
Measuring the impact of political risk on investment projects is one of the most vexing issues in international business. One popular approach is to assume that the sovereign yield spread captures political risk and to augment the project discount rate by this spread. We show that this approach...
Persistent link: https://www.econbiz.de/10013015661
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Welfare implications of international financial integration
Lee, Jong-Wha; Shin, Kwanho - 2008
Focusing on technology spillover from foreign direct investment (FDI) inflows, this paper investigates the welfare … that when technology catch-up due to FDI inflows is considered, the welfare gains from financial integration substantially …
Persistent link: https://www.econbiz.de/10010529709