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Financial Institutions and The Wealth of Nations: Tales of Development

Tong, Jian; Xu, Chenggang - William Davidson Institute, University of Michigan - 2004

institutions in selecting R&D projects (including for both imitation and innovation). Financial development is regarded as the … innovation. However, this regime requires more decentralized decision-making, which in turn depend on contract enforcement. A …

Persistent link: https://www.econbiz.de/10005677512

Transition in Russia: It's Happening

Berkowitz, Daniel; DeJong, David; Husted, Steven - William Davidson Institute, University of Michigan - 1997

Working with 110 pairs of time series of state and market commodity prices in Russia, we search for signs of transition in Russia from a command to a market economy. Beginning with inter-city comparisons of state and market prices, we find that differences in the levels of these prices have...

Persistent link: https://www.econbiz.de/10005652540

Coordinating Changes in M-form and U-form Organizations

Qian, Yingyi; Roland, Gerard; Xu, Chenggang - William Davidson Institute, University of Michigan - 1999

more flexibility leading to more innovation and reform. We apply our theory to business firms, transition economies, and …

Persistent link: https://www.econbiz.de/10005652512