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We explore a view of the crisis as a shock to investor sentiment that led to the collapse of a bubble or pyramid scheme in financial markets. We embed this view in a standard model of the financial accelerator and explore its empirical and policy implications. In particular, we show how the...
Persistent link: https://www.econbiz.de/10008684673
, competition leads to faster innovation, because the investor has less of a need to delay expensive investments. The investor …
Persistent link: https://www.econbiz.de/10011084370
This paper looks at the genesis of innovation in the United States from a territorial perspective. The analysis aims to … disentangle the impact of local R&D expenditure from other contextual conditions supportive of the process of innovation …. Particular emphasis is devoted to the role of socio-economic factors and systems of innovation conditions (‘social filter …
Persistent link: https://www.econbiz.de/10011083285
This paper analyses the geography of innovation in China and India. Using a tailor-made panel database for regions in … between the provinces and states within both countries are quite different. In China, the concentration of innovation is … contrast, innovation is much more dependent on a combination of good local socioeconomic structures and investment in science …
Persistent link: https://www.econbiz.de/10011083752
-enhancing role of innovation and innovation policy. The analysis combines innovation variables with indicators linked to the … formation of adequate social conditions for innovation (the social filter), and spillovers for 31 Mexican states and the Mexico … results stress that, although Mexican innovation policy has been relatively well targeted in order to generate greater …
Persistent link: https://www.econbiz.de/10011083786
A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often perceived to be at the mercy of imitators in the absence of legal protection. In practice, innovators however invest actively in making their products technologically hard to...
Persistent link: https://www.econbiz.de/10011084053
This paper builds a two-country (North, South), two-sector (polluting, nonpolluting) trade model with directed technical change, examining whether unilateral environmental policies can ensure sustainable growth. The polluting good is produced with a clean and a dirty input. I show that a...
Persistent link: https://www.econbiz.de/10011084402
The literature on within-firm organizational change and productivity suggests that firms can make more efficient use of certain technologies if complementary forms of organization are adopted. This issue may be of even greater importance for the case of greenhouse gas (GHG) abatement...
Persistent link: https://www.econbiz.de/10011084545
Technological progress takes the form of improvements in the quality of an array of intermediate inputs to production. In an equilibrium that is standard in the literature, all research is carried out by outsiders, and success means that the outsider replaces the incumbent as the industry...
Persistent link: https://www.econbiz.de/10005067489
We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite …, policy changes and disaggregating by type of owner we find that the effect of institutions on innovation does not appear to …
Persistent link: https://www.econbiz.de/10005661518