Showing 1 - 10 of 108
countries in terms of education, earnings, and employment. …
Persistent link: https://www.econbiz.de/10010744907
The financial crisis has generated a deep revision of the regulation of securities and derivatives markets. In this paper, we critically examine the extent to which current reforms, such as the European Market Infrastructure Regulation and the proposed new Markets in Financial Instruments...
Persistent link: https://www.econbiz.de/10011126127
This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for...
Persistent link: https://www.econbiz.de/10010884496
This paper analyzes differences in R&D spending and in the impact of R&D on productivity between German and UK firms. We confirm that German firms spend significantly larger amounts on R&D than their UK counterparts, even after controlling for firm size and industry effects. Using a dynamic...
Persistent link: https://www.econbiz.de/10010745353
Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the incentive effect of competition on innovation and the...
Persistent link: https://www.econbiz.de/10010745834
We provide a formal analysis of the notion that conglomerates are more ‘entrenched’ as they have ‘deeper pockets’. Using the financial contracting model of Bolton and Scharfstein (1990), we can isolate two effects that confirm this conjecture: the pooling of cash flows, which allows to...
Persistent link: https://www.econbiz.de/10010746348
In most of the European transition economies regional policy is a relatively new phenomenon, given the absence of a … develop also in the transition period. This was in many respects due to the relative hysteresis of the transition process in … processes of transition and fast economic growth. Nevertheless (or, as a consequence), the emerging regional policy framework in …
Persistent link: https://www.econbiz.de/10005453828
The transition from a command economy in the FSU resulted in increased activities in the informal sector. However …
Persistent link: https://www.econbiz.de/10011125949
unemployment. The slow adjustment to unemployment was a result of employers using various means to maintain employment levels … maintain employment levels. Quantitative analysis using Kyrgyz data for 1993 and 1996 provides evidence of changing economic …
Persistent link: https://www.econbiz.de/10011126101
In the past few years the informal sector in countries in transition has increasingly become the focus of research …-consumption. We provide an example of how this concept of informal activities can be operationalised to analyse informal employment …
Persistent link: https://www.econbiz.de/10011126486