This study extends the traditional set of central bank's interventions to include official announcements in order to provide empirical evidence on two pivotal questions: (i) are FX authorities able to influence market expectations with different instruments? (ii) how should interventions be...

We extend the basic Schumpeterian endogenous growth model by allowing incumbents to undertake innovations to improve their products, while entrants engage in more “radical” innovations to replace incumbents. Our model provides a tractable framework for the analysis of growth driven by both...

This research investigates the effects of entrepreneurial orientation and external technology acquisition on the performance of technology-based new ventures in the context of a transitional economy. An analysis of the cross-sectional data from 123 Chinese technology-based new ventures was...