This paper presents an international comparison of R&D activities in basic and applied research. The commonly-held view that Japan is not spending much on basic technology development cannot be empirically substantiated from the study of the historical trends. However, the fact that in the...

The purpose of this paper is to apply the theory of Lie transformation groups as developed by the first author, and derive a testable model of production and technical change. The econometric model is then applied to data derived by F. Gollop and D. Jorgenson for U.S. manufacturing industries...

The purpose of this paper is to evaluate the Japanese deposit insurance scheme by contrasting the flat insurance rate with a market-determined risk-adjusted rate. The model used to calculate the risk-adjusted rate is that of Ronn and Verrna (1986) . It utilizes the notion of Merton(1977) that...