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We identify East Asian growth as an 'emulative process'. Distilling salient facts from a set of particular cases, we construct an example to capture the essence of such technology transfer, where the government of a developing economy may provide adequate incentive for the firms of a developed...
Persistent link: https://www.econbiz.de/10014210114
We show that skilled and unskilled labors are imperfect substitutes and that capital and skilled labor are complementary in production. The Korean economy has experienced skill-biased technical changes. The capital stock growth is found to be the main source of the economic growth. The...
Persistent link: https://www.econbiz.de/10013109245
uncertainty, firms that are credit constrained switch the composition of investment by reducing productivity-enhancing investment …
Persistent link: https://www.econbiz.de/10011634332
This study highlights the importance of investment-specific technological (IST) progress in affecting the business … investment goods across different vintages, which raises payouts from new investments while inducing capital losses of older … investment goods. I develop a DSGE model that focuses on asset valuation by capital owners, considering their net wealth. The …
Persistent link: https://www.econbiz.de/10013322512
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Extreme capitalism is a condition in which large companies and rich people raise too much money and leave too little … and the market is not growing. The further result is investment opportunities are not growing too. The capital they … generally been trapped in extreme capitalism …
Persistent link: https://www.econbiz.de/10013213536
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Traditionally the creation of sovereign wealth funds (SWFs) was “supply-driven”, the result of excess reserves from natural resources (e.g. Norway, Qatar, Kuwait, etc.) or non-commodity capital flows (e.g. South Korea, China, Singapore, etc.). More recently we observe many newly established...
Persistent link: https://www.econbiz.de/10012957187
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