Climatic characteristics of foreign low latitude plateau regions are firstly introduced. Then, experience and lessons of major foreign low latitude plateau countries in developing modern agriculture are analyzed, including Indian three agricultural revolutions and agricultural informationization...

This paper firstly summarized experience of Vietnam and Taiwan in developing modern agricultural manorial economy. The manorial economy of Vietnam is characterized by intensive and specialized operation and high marketization and wide employment of labors, while the experience of Taiwan can be...

How do restrictions on labor mobility affect economic growth? We quantitatively answer this question with a dynamic agency model that jointly accounts for investment in intangible capital, knowledge spillovers, and the allocation of rents among investors and agents. Our calibration is...

How do innovative firms react when existing products experience negative shocks? We explore this question with detailed project-level data from drug development firms. Using FDA Public Health Advisories as idiosyncratic negative shocks to approved drugs, we examine how drug makers react through...

Using the staggered implementation of telehealth parity laws in the U.S. Healthcare industry, we find causal evidence that virtual competition affects U.S. hospitals' cost of capital through a credit risk channel. Financial statements indicate that rural hospitals lose patients to urban...

This study examines the link between credit supply and hospital health outcomes. Using detailed data on hospitals and the banks that they borrow from, we use bank stress tests as exogenous shocks to credit access for hospitals that have lending relationships with tested banks. We find that...

We study dynamic Bayesian persuasion in an entry game. A sender publicly reveals information to an adopter and a competitor. When the sender's loss from competition is small, the optimal policy features hype cycles: the sender first exaggerates the value of a technology to attract the adopter,...

We study venture capital finance with experimentation. An entrepreneur contracts with an investor and has private information about a project, which requires costly experimentation by both parties to succeed. In equilibrium, investors learn about the project from the arrival of exogenous...

We find that common ownership leads VCs to stifle competition among startups, but only in limited circumstances. Our evidence is from pharmaceutical startups, where common ownership is widespread. We examine how a startup responds after seeing a competitor make progress on a related drug...