In this paper we give an example in which the price of tradeable emission permits increasesdespite firms' adoption of a less polluting technology. This is in contrast with Montero (2002) andParry (1998), among others. If two Counot players switch to a cleaner technology, the price forpermits may...

We test whether firms with a single bank are better shielded from loss of credit and investment cutsin periods of adverse cash flow shocks than firms with multiple bank relationships. Our estimatesof the cash flow sensitivity of investment show that both types of firms are equally subject...

This paper estimates the impact of registering for taxes on firm profits in Bolivia, the countrywith the highest levels of informality in Latin America. A new survey of micro and small firmsenables us to control for a rich set of measures of owner ability and business motivations thatcan affect...

We model decisions with respect to formality or informality for entrepreneurs in a newindustry for a developing economy. We show that informality allows a leader to explore,without significant sunk costs, the potential profitability of the industry; that is, informality maybe a stepping stone,...

This paper examines international technology transfers using firm-level data across 43developing countries. Our findings show that exporting and importing activities are importantchannels for the transfer of technology...

On December 9, 1999, Yves Cizaire, manager of MIS, had just returned from a steering committeemeeting where a difficult decision had been made. After having successfully implemented SAP´sERP software package R/3 in the head office and two distribution centers using a phasedimplementation...