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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
Persistent link: https://www.econbiz.de/10013428541
in terminating inefficient trade flows. This constitutes a new channel through which finance improves resource allocation …
Persistent link: https://www.econbiz.de/10011346433
Over the past century, Israel has been transformed from an agricultural colony, to a welfare-warfare state, to a globally integrated “market economy” characterised by great income disparities. What lies behind this transformation? Why the shift in emphasis from “war profits” to “peace...
Persistent link: https://www.econbiz.de/10011646687
It is popular these days to talk about the "discontent" of neoliberal globalization. This "discontent" is no longer the prerogative of intellectuals. Increasingly, it comes from below, with opposition from the grassroots. But there may be another type of discontent lurking behind the scenes....
Persistent link: https://www.econbiz.de/10011646692
return in the economy. However, since a differential growth in profits implies control over a growing share of the aggregate …
Persistent link: https://www.econbiz.de/10011646694
A theoretical and historical account of the global political economy of oil, armament and capital accumulation in the Middel East.
Persistent link: https://www.econbiz.de/10011646695
The chapter offers a new approach for analysing capitalist development and crisis, tying together mergers and acquisitions, stagflation and globalization as integral facets of accumulation. The framework builds on the concept of differential accumulation, emphasizing the power drive by dominant...
Persistent link: https://www.econbiz.de/10011646696
The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and...
Persistent link: https://www.econbiz.de/10011646704
Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad...
Persistent link: https://www.econbiz.de/10005621372