This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...

Using a firm-level panel data set I assess whether dynamic models of investment provide an empirically fruitful framework for analyzing tax effects on changes in capital stock. In particular I estimate a one-step error correction model (ECM) complementing the usual estimation of a distributed...

Schon seit 1995 haben sich die deutschen Exporte positiv entwickelt, das Wachstum des Bruttoinlandsprodukts blieb aber moderat Welche Wirkungskette zwischen Auslandsnachfrage, Investitionen und Wachstum ergibt sich aus theoretischer Sicht? Ist ein empirischer Zusammenhang zwischen Exporten und...

Zur Verbesserung der steuerlichen Rahmenbedingungen für Investitionen wird die Forderung erhoben, die zur Finanzierung von Investitionen verwendeten Gewinne steuerlich zu schonen oder gar steuerfrei zu lassen. Dies bedeutet dann zugleich, daß nur die dem Unternehmen entnommenen Gewinne der...

This study focuses on the effect of public funding on internal R&D investment and on total innovation intensity on a cross-country comparative level. Using harmonised micro data from five different countries, this study analyzes the heterogeneity of the use of policy instruments. Applying a...

In the paper, the sources of productivity growth are investigated by an empirical analysis with micro data for West-German manufacturing firms. The theoretical framework corresponds to an augmented growth accounting approach based on a production function. The empirical results reveal that...