relationship-specific investment. Then we empirically confirm this prediction by showing that industries dependent on relationship …-specific investment from their suppliers grow disproportionately faster in countries with a high level of financial development and in US …

consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed … light on differences across sectors but also compare these figures with investment in physical capital and with investment … intangible capital from 1995-2006 by 30%. Furthermore, results reveal differences in the investment patterns among the UK and …

We present a model of investment hangover motivated by the Great Recession. In our model, overbuilding of residential … economy enters a liquidity trap with limited reallocation and low output. The drop in output reduces nonresidential investment … through a mechanism similar to the acceleration principle of investment. The burst in nonresidential investment is followed by …

Banks (but not stock markets) promote economic growth by facilitating relationship-specific investment between buyers …-specific investment motivate this economic channel: A supplier is reluctant to undertake relationship-specific investment as she cannot … from 28 industries in 90 countries confirm that industries dependent on relationship-specific investment from their …