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This paper incorporates the cost of adjustment between observed and optimal leverage in explaining the variation in firm's equity or bank-debt financing investments. Using a dynamic adjustment approach identifies the determinants to capital structure between different financial systems. In...
Persistent link: https://www.econbiz.de/10011448232
The relationship between venture capital and growth is examined using an endogenous growth model incorporating dynamic … reduces growth and welfare …
Persistent link: https://www.econbiz.de/10011782639
Persistent link: https://www.econbiz.de/10011873306
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reforms that would likely increase the rate of innovation and the number of startups due to immigrants in the country. Key …
Persistent link: https://www.econbiz.de/10012241073
growth through capital accumulation. This paper contributes to this literature. As opposed to the previous studies, which …
Persistent link: https://www.econbiz.de/10010321740
We investigate the controversial issue whether unemployment is related to productivity growth in the long run, using U …. Therefore the secular decline of unemployment since the mid 1990s indeed stemmed from higher average productivity growth. The …
Persistent link: https://www.econbiz.de/10010265226
It has been shown that higher capital taxes can have a growth-enhancing effect when combined with a revenue … critically hinge on the existence of a bequest motive. It is shown that a wage-tax cut is no longer growth-enhancing when … bequests are operative. By way of contrast, increasing productive public services may well boost growth. The theoretical …
Persistent link: https://www.econbiz.de/10010265806
from an agrarian to an industrial economy generating diverging growth patterns across countries. Land abundance, which was … beneficial in early stages of development, generated in later stages a hurdle for human capital accumulation and economic growth … of industrialization affected the transition to modern growth and has brought about changes in the ranking of countries …
Persistent link: https://www.econbiz.de/10010318867
This research suggests that favorable geographical conditions, that were inherently associated with inequality in the distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public schooling and child labor regulations), and thus the...
Persistent link: https://www.econbiz.de/10010318918