related to recent research in institutional economics. Measuring limited government with the Henisz political constraints … constraints lead income per capita. Since both are persistent variables, their differences are analyzed. The evidence from the … 1960-1990 period indeed suggests that increases in political constraints precede economic growth. The effect of political …

constraints and reduce inflation (the "checks and balance effect"). Our analysis is used to interpret China's recent experience of … transition to a market economy. (JEL E62, E63, H7, L30, P3) <p> Key Words: Soft Budget Constraints, Federalism, Decentralization …

-lived households face occasionally binding borrowing constraints and store wealth to smooth out idiosyncratic income fluctuations. Debt … stock of liquidity also loosens the borrowing constraints faced by firms, thereby raising labour demand and possibly the …

-horizon incomplete security markets with a type of constraints that feasible portfolio strategies form a convex cone. We provide a …

This paper contributes to the literature by introducing the nexus between financial constraints and the capital … JEL Classifications: E22, D92, E44 Keywords: Financial constraints, Firm-specific characteristics, Capital-Labour ratio … literature by introducing the nexus between financial constraints and the capital-labour uptake and by considering the capital …

growth, dietary change of consumers and trade of high-value products. A number of constraints act as barriers to realizing …

We explore which financial constraints matter the most in the choice of becoming an entrepreneur. We consider a … willingness to bear risk as opposed to simply relaxing current liquidity constraints. …