Similar Search Results

Inequality, Property Rights Protection, and Economic Growth in Transition Economies: Theory and Russian Evidence

Sonin, Konstantin - C.E.P.R. Discussion Papers - 1999

economic performance are very important. The paper develops an endogenous growth theory model with incomplete capital markets … demonstrated enormous differences in growth rates. It is found that these differences may be explained by initial conditions and … effectiveness of institutions. Also, positive impact of inequality on the level of public protection of property rights is found and …

Persistent link: https://www.econbiz.de/10005114189

Information and the Optimal Ownership Structure of Firms

Matouschek, Niko - C.E.P.R. Discussion Papers - 2002

I develop a property rights theory of the firm in which managers bargain over the sharing of quasi-rents in the presence of private information. I analyse the interdependence between the ownership structure of firms and the bargaining inefficiency that is due to the presence of private...

Persistent link: https://www.econbiz.de/10005662109

Why Do Many Resource-Rich Countries Have Negative Genuine Saving? Anticipation of Better Times or Rapacious Rent Seeking

van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2008

We investigate the Hartwick rule for saving of a nation necessary to sustain a constant level of private consumption for a small open economy with an exhaustible stock of natural resources. The amount by which a country saves and invests less than the marginal resource rents equals the expected...

Persistent link: https://www.econbiz.de/10005662316

Determinants of Expropriation in the Oil Sector: A Theory and Evidence from Panel Data

Guriev, Sergei; Kolotilin, Anton; Sonin, Konstantin - C.E.P.R. Discussion Papers - 2008

and empirically, that governments are more likely to nationalize when oil prices are high and when political institutions … to happen when oil prices are high and the quality of institutions is low even when controlling for country fixed effects. …

Persistent link: https://www.econbiz.de/10005662343

The land that Lean manufacturing forgot? Management practices in transition countries

Bloom, Nicholas; Schweiger, Helena; Van Reenen, John - C.E.P.R. Discussion Papers - 2011

workforce education should promote better management, and ultimately faster economic growth. …

Persistent link: https://www.econbiz.de/10009207520

When Does FDI Have Positive Spillovers? Evidence from 17 Transition Market Economies

Gorodnichenko, Yuriy; Svejnar, Jan; Terrell, Katherine - C.E.P.R. Discussion Papers - 2014

We use rich firm-level data and national input-output tables from 17 countries over the 2002-2005 period to test new and existing hypotheses about the impact of foreign direct investment (FDI) on the efficiency of domestic firms in the host country (i.e., spillovers). We document that backward...

Persistent link: https://www.econbiz.de/10011083237

The Capital Structure of Firms in Central and Eastern Europe

Cornelli, Francesca; Portes, Richard; Schaffer, Mark E - C.E.P.R. Discussion Papers - 1996

According to more recent theories on the optimal capital structure, the availability of external financing is not always guaranteed, or it may come at different costs, depending on the methods of financing used (debt vs. equity, long-term debt vs. short-term debt, etc.). Under such...

Persistent link: https://www.econbiz.de/10005791543

The New Geography of Eastern European Trade

Cheikbossian, Guillaume; Maurel, Mathilde - C.E.P.R. Discussion Papers - 1997

This paper estimates the cost of the disintegration of the former Council for Mutual Economic Assistance (CMEA). It asks whether the reorientation of trade flows towards Western markets has been large enough to compensate for the huge destruction of trade flows between former CMEA countries....

Persistent link: https://www.econbiz.de/10005791893

Differentiated Products and Evasion of Import Tariffs

Javorcik, Beata; Narciso, Gaia - C.E.P.R. Discussion Papers - 2008

An emerging literature has demonstrated some unique characteristics of trade in differentiated products. This paper contributes to the literature by postulating that differentiated products may be subject to greater tariff evasion due to the difficulties associated with assessing their quality...

Persistent link: https://www.econbiz.de/10005792074

On the Role of Bank Competition for Corporate Finance and Corporate Control in Transition Economies

Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998

Banks play a central role in financing and monitoring firms in transition economies. This study examines how bank competition affects the efficiency of credit allocation; monitoring of firms; and the firms' restructuring effort. In our model, banks compete to finance an investment project with...

Persistent link: https://www.econbiz.de/10005792444