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Hvide, Hans K; Panos, Georgios - C.E.P.R. Discussion Papers - 2013

A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we...

Persistent link: https://www.econbiz.de/10011083758

Financial Development, Property Rights and Growth

Claessens, Stijn; Laeven, Luc - C.E.P.R. Discussion Papers - 2002

This Paper investigates how the legal framework not only affects the amount of external financing available, but also firms’ resource allocation among different types of assets. Using a simple model, we show that in a weaker legal environment a firm will get less financing, and thus invest...

Persistent link: https://www.econbiz.de/10005504760

Knowledge Spillovers, ICT and Productivity Growth

Corrado, Carol; Haskel, Jonathan; Jona-Lasinio, Cecilia - C.E.P.R. Discussion Papers - 2014

This paper looks at the channels through which intangible assets affect productivity. The econometric analysis exploits a new dataset on intangible investment (INTAN-Invest) in conjunction with EUKLEMS productivity estimates for 10 EU member states from 1998 to 2007. We find that (a) the...

Persistent link: https://www.econbiz.de/10011084334

How Much Does the UK Invest in Intangible Assets?

Giorgio Marrano, Mauro; Haskel, Jonathan - C.E.P.R. Discussion Papers - 2007

We attempt to replicate for the UK the Corrado, Hulten and Sichel (2005, 2006) work on spending on intangible assets in the US. Their work suggests private sector expenditure (investment) on intangibles is about 13% (11%) of US GDP 1998-2000, with intangible investment about equal to tangible...

Persistent link: https://www.econbiz.de/10005656338

Assessing agglomeration economies in a spatial framework with endogenous regressors

Artis, Michael J; Miguélez, Ernest; Moreno, Rosina - C.E.P.R. Discussion Papers - 2009

This paper is concerned with the influence of agglomeration economies on economic outcomes across British regions. The concentration of economic activity in one place can foster economic performance due to the reduction in transportation costs, the ready availability of customers and suppliers,...

Persistent link: https://www.econbiz.de/10005791212

Public Support for Innovation, Intangible Investment and Productivity Growth in the UK Market Sector

Haskel, Jonathan; Wallis, Gavin - C.E.P.R. Discussion Papers - 2010

Pressure on public finances has increased scrutiny of public support for innovation. We examine two particular issues. First, there have been many recent calls for the (relatively new) UK R&D subsidy to be extended to other "research" activities, such as software. Second, argument still rages...

Persistent link: https://www.econbiz.de/10008468645

Hobbies, Skills and Incentives to Work: The Happy Gardener and the Wealthy Golfer

Sällström, Susanna - C.E.P.R. Discussion Papers - 2007

model explains the economic origins of culture. It was no accident that the intricate steps of tango emerged in the shabby …

Persistent link: https://www.econbiz.de/10005504741

Culture, Institutions and Democratization

Gorodnichenko, Yuriy; Roland, Gérard - C.E.P.R. Discussion Papers - 2015

We construct a model of revolution and transition to democracy under an individualistic and a collectivist culture. The … culture are more likely to end up adopting democracy faster than countries with a collectivist culture. Our instrumental … variable estimation suggests a strong and robust effect of individualistic culture on average polity scores and length of …

Persistent link: https://www.econbiz.de/10011266531

Culture, Languages, and Economics

Ginsburgh, Victor; Weber, Shlomo - C.E.P.R. Discussion Papers - 2013

The impact of various facets of cultural diversity on economic outcomes has become a topic of intensive research in economics. This paper focuses on linguistic diversity as one of the important aspects of cultural heterogeneity, and more specifically, The aim of this paper is to formally examine...

Persistent link: https://www.econbiz.de/10011083315

Migration, Friendship Ties, and Cultural Assimilation

Facchini, Giovanni; Patacchini, Eleonora; Steinhardt, Max - C.E.P.R. Discussion Papers - 2014

In this paper we contribute to the analysis of the assimilation process of migrants by analyzing the extent to which friendship with natives can be seen as a measure of cultural assimilation and investigating the formation of social ties in the host country. Using novel information from the...

Persistent link: https://www.econbiz.de/10011083380