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On Capital Market Imperfections as a Source of Low TFP and Economic Rents

Erosa, Andres; Hidalgo, Ana - University of Toronto, Department of Economics - 2005

We propose a theory in which capital market imperfections are at the origin of cross-country TFP differences. In our theory entrepreneurs have private information about the multifactor productivity of their technology. We study how the contracting environment, as described by the ability to...

Persistent link: https://www.econbiz.de/10005827234

The nexus between business-investment climate and firm performance in the Middle East and North Africa (MENA) region

Giovanis, Eleftherios; Özdamar Giovanis, Öznur - In: Review of economics and political science : REPS 7 (2022) 4, pp. 257-285

Purpose Effective business and investment climate can lead to a higher rate of investment, profits and improved productivity, through the creation of an institutional environment, where the state provides high-quality public goods. This study aims to explore the impact of the business-investment...

Persistent link: https://www.econbiz.de/10013413516

Stabilizing fiscal policies with capital market imperfections.

Dromel, Nicolas L. - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2009

We analyze how investment subsidies can affect aggregate volatility and growth in economies subject to capital market imperfections. Within a model featuring both frictions on the credit market and unequal access to investment opportunities among individuals, we provide specific fiscal...

Persistent link: https://www.econbiz.de/10004991604

Boosting productivity and living standards in Thailand

Koen, Vincent; Asada, Hidekatsu; Rahuman, Mohamed … - 2018

The Prosperity pillar of the 2030 Agenda for Sustainable Development calls for an integrated approach based on boosting productivity through diversification, upgrading technology and innovation, and increasing employment and entrepreneurship. Thailand needs to address all these challenges to...

Persistent link: https://www.econbiz.de/10011914179

Balanced budget stimulus with tax cuts in a liquidity constrained economy

Prasad, Vivek - Birkbeck, Department of Economics, Mathematics & Statistics - 2014

This paper examines the macroeconomic effects of unexpected, exogenous, simultaneous, temporary cuts to income tax rates in an economy when the government follows a balanced budget fiscal rule and keeps money supply constant, and private agents face constraints on the ability to finance...

Persistent link: https://www.econbiz.de/10010886267

Taxation, Asset Bubbles, and Endogenous Growth

Wiedmer, Thomas - In: Journal of Economics and Statistics (Jahrbuecher fuer … 222 (2002) 4, pp. 500-507

This paper examines the impact of different forms of taxation on economic growth in a model with endogenous technical …

Persistent link: https://www.econbiz.de/10008634428

A scientific note on the Italian Mini BOTs and the proposal of the CCCFs

Saccal, Alessandro - 2024

nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in … associated with them, would have (i) stimulated expenditure more than a taxation rebate to the said firms and (ii) facilitated … taxation credit certificates endowed with a further reduction in taxation conditional on their use for consumption, termed …

Persistent link: https://www.econbiz.de/10015076228

Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis

Jin, Yi; Leung, Charles Ka Yui; Zeng, Zhixiong - Volkswirtschaftliche Fakultät, … - 2010

This paper studies the connection between the capital market and the real estate market. Empirically, we find that positive real house price shocks lower the external finance premium and stimulate nonresidential investment and real GDP. Our theoretical framework is able to mimic the volatility...

Persistent link: https://www.econbiz.de/10008728047

Roads to equality: wealth distribution dynamics with public-private capital complementarity

Ferreira, Francisco H. G. - London School of Economics (LSE) - 1995

This paper proposes a model of wealth distribution dynamics with a capital market imperfection and a production function where public capital is complementary to private capital. A unique invariant steady-state distribution is derived, with three social classes: subsistence workers, 'government...

Persistent link: https://www.econbiz.de/10010746233

International Capital Flows and Aggregate Output

von Hagen, Jürgen; Zhang, Haiping - C.E.P.R. Discussion Papers - 2011

We show in a tractable, multi-country OLG model that cross-country differences in financial development explain three recent empirical patterns of international capital flows. International capital mobility affects output in each country directly through the size of domestic investment as well...

Persistent link: https://www.econbiz.de/10009024481

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