Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross-border expansion of firms. But firms may also need external finance to shoulder the costs of entering foreign markets. We develop a model of multinational firms facing real and...

The crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of...

We examine micro-level channels of how financial development can affect macroeconomic outcomes like the level of income and export intensity. We investigate theoretically and empirically how financial constraints affect a firm's innovation and export activities, using unique firm survey data...

This paper examines micro-level channels of how financial development can affect macroeconomic outcomes such as the level of income and export intensity. Specifically, the paper investigates theoretically and empirically how financial constraints affect a firm's innovation and export activities....

This paper presents a modified national accounting system tailored to a description of Research and Development (R&D)in the national economy. The main differences with the standard national accounts are some changes in the basic concepts (e.g. own-account production of R&D is considered as...

Labor productivity in developed countries is analyzed and modeled. Modeling is based on our previous finding that the rate of labor force participation is a unique function of GDP per capita. Therefore, labor productivity is fully determined by the rate of economic growth, and thus, is a...

This paper uses the farm-level survey data to estimate the stochastic frontier production function incorporating inefficiency effects. Sufficient evidence of positive relationship between wheat productivity and higher and balanced use of fertiliser nutrients was present. The productivity showed...

This paper examines the existence of externalities associated with FDI in a host country by exploiting firm-level panel data covering the Polish corporate sector. The main findings are as follows. Local firms benefit from foreign presence in the same industry and in downstream industries....

The connection between age and productivity is a widely discussed topic in the empirical literature. The present paper's aim is to contribute to the explanation of an apparant lower productivity of older individuals. If we introduce uncertainty about the future working conditions depending on...

Economic information, such as interpersonal relationships, and lead are usually placed at the basis of the facts and circumstances must always be based on a economic theory well argued. Relations between employees and managers should provide related information in terms of social issues,...