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Persistent link: https://www.econbiz.de/10012601502
Private-order market institutions founded on trust-based relational contracts suffer adverse selection and moral hazard problems, while public-order market institutions have a limited capacity to enforce contracts. I model agent selection between contract enforcement institutions and demonstrate...
Persistent link: https://www.econbiz.de/10012948285
In many ways, China is the new frontier for entrepreneurship; perceived to be: a logical primary source of economical manufacturing, raw materials, component parts, and as a major end market. China may also represent the most likely future competition for many American industries as well as our...
Persistent link: https://www.econbiz.de/10013111625
of China's post-Mao economic reform has provided interesting material against which to test the Rights Hypothesis. Two …
Persistent link: https://www.econbiz.de/10012735634
strong creditor protection for aircraft finance. After this reform, country-level productivity in the aviation sector …
Persistent link: https://www.econbiz.de/10012668205
This article develops and tests a theory of the institutions that make property rights viable, ensuring their enforcement, mobilizing the collateral value of assets and promoting growth. In contrast to contractual rights, property rights are enforced in rem, being affected only with the consent...
Persistent link: https://www.econbiz.de/10012706611
This paper seeks to quantify the impact of transaction costs on cross-country economic growth. Our evidence from a cross-country panel data regression analysis reveals a persistent and robust negative effect of increasing transaction costs on the path of economic growth. The growth-enhancing...
Persistent link: https://www.econbiz.de/10012945921
A nation’s economic development requires a significant investment in infrastructure. Infrastructure investment, however, is costly and risky: it is capital intensive, is potentially unprofitable, and requires high levels of technical expertise in many disciplines. To solve this challenge, most...
Persistent link: https://www.econbiz.de/10014349340
. The paper calls for a concentrated approach to cluster development in India based on size of the cluster, its potential …
Persistent link: https://www.econbiz.de/10014043521
Persistent link: https://www.econbiz.de/10008655128