Contract enforcement and institutional stability play an important role in determining the level and maturity of … international debt. Contract enforcement is modeled as a fixed cost that investors incur to obtain the contracted, gross returns on … international investments. Institutional stability is modeled as the probability that the same contract enforcement cost will …

for contract enforcement resulting in opportunistic behavior from private investors. Under a "gray information" regime …

complete contract efficiency is restored through a subsidy to R&D only, with incomplete contracts a production subsidy to …

We use economic experiments to investigate how different contract enforcement regimes affect efficiency and the …

Motivated by the differences in innovation intensity across countries, this paper evaluates the role of contract … enforcement for R&D investments. If contracts for inputs are incomplete and contract enforcement is weak, innovative companies can …

According to standard theory, the need for government results from the need for coercive third-party contract …