Using a panel of 138 countries over 1994-2005 we identify a channel through which a media free from government control promotes domestic investment. We hypothesize that a free media may enhance socio-political stability creating a favorable investment climate that attracts investment. A...

Using a panel of 138 countries over 1994-2005 we identify a channel through which a media free from government control promotes domestic investment. We hypothesize that as media becomes freer socio-political stability is enhanced due to the creation of a favorable business climate that attracts...

Using a panel of India's registered manufacturing firms and both economy-wide and firm-level financial data, we investigate the effects of India's financial liberalization on the productivity of its manufacturing sector in the 1990s and 2000s. Our dynamic panel analysis shows that the series of...

This paper characterizes a class of rules for decision-making when an agent knows the possible states of the world and the outcome of each of her actions for each state, but does not have any information about the probabilities of the states. The existing literature in this framework has mainly...

The classical theory of rational choice is built on several important internal consistency conditions. In recent years, the reasonableness of those internal consistency conditions has been questioned and criticized, and several responses to accommodate such criticisms have been proposed in the...

This paper provides estimation method to measure technical efficiency of production units and the speed of adjustment of output, both varying with time, from a dynamic stochastic production frontier that incorporates the sluggish adjustment of inputs. Using a panel dataset on private...

The purpose of this paper is to construct a dynamic stochastic production frontier incorporating the sluggish adjustment of inputs, to measure the speed of adjustment of output, and to compare the technical efficiency estimates from this dynamic model to those from a static model. By assuming...