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The historical record suggests that economic development is associated with the rise of the financial sector. This rise is often triggered by exogenous events such as large budget deficits generated by wars or the availability of large investment projects such as railroads. This paper discusses...
Persistent link: https://www.econbiz.de/10005789013
Privatization is shown to increase national economic output in a two-sector full-employment general-equilibrium model …, or stabilization. The static output gain from reallocation and reorganization through privatization is captured in a …. Substitution of plausible parameter values into the formula indicates that, in practice, the static output gain from privatization …
Persistent link: https://www.econbiz.de/10005504670
This Paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
Persistent link: https://www.econbiz.de/10005124380
This paper models technology adoption as replacing workers by machines, which perform the same job in the production process. The paper shows that such modelling of technology adoption affects significantly the analysis of economic growth. This model can explain large and persistent...
Persistent link: https://www.econbiz.de/10005504740
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...
Persistent link: https://www.econbiz.de/10008921773
We provide the first empirical tests for financial protectionism, defined as a nationalistic change in banks’ lending behaviour, as the result of public intervention, which leads domestic banks either to lend less or at higher interest rates to foreigners. We use a bank-level panel data set...
Persistent link: https://www.econbiz.de/10009024484
examines the impact of the privatization of kibbutzim on fertility behavior among members. We find that fertility declined by 6 …-15 percent following the shift to privatization. In light of the massive change in financial costs associated with childbearing … due to privatization, our results suggest that financial considerations may be a more modest factor in fertility decisions …
Persistent link: https://www.econbiz.de/10009367434
privatization on airport charges in a panel data setting where fixed effects can be employed to mitigate endogeneity concerns. Our …
Persistent link: https://www.econbiz.de/10009351519
. However, privatization may increase quality by fostering performance-improving innovation, particularly if combined with … difference-in-difference-in-difference approach. The results indicate that privatization and the associated increase in …
Persistent link: https://www.econbiz.de/10011084097
This paper offers a unique quantitative evaluation of the distribution of the welfare of a water privatization … intermediate suppliers and investors have also clearly benefited during the short privatization duration. However the paper also …
Persistent link: https://www.econbiz.de/10009399719