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Persistent link: https://www.econbiz.de/10009125768
One of the most outstanding features of the trend toward globalization has been the increased importance of foreign direct investment (FDI) flows around the world. This study estimates the determinant of FDI flows using the gravity equation, controlling for the importance of both the traditional...
Persistent link: https://www.econbiz.de/10013037344
This paper formally proves that economic outcomes are not independent from the corporate governance system and its ability to protect shareholders’ rights. This is achieved by extending a neoclassical growth model to incorporate an imperfectly functioning market for managerial labour enabling...
Persistent link: https://www.econbiz.de/10014176959
Using objective measures of investor protections in 170 countries, I establish that the level of investor protection matters for cross-country differences in GDP growth: countries with stronger protections tend to grow faster than those with poor investor protections
Persistent link: https://www.econbiz.de/10012766527
This paper analyzes the implications of investors' legal protection on aggregate productivity and growth. We have two …
Persistent link: https://www.econbiz.de/10013071119
institutional environment variables at the sub-national level in explaining firm employment and productivity growth. We find basic …
Persistent link: https://www.econbiz.de/10013163637
small enterprises' (MSEs) productivity edge and growth. Using non-farm household enterprise data from Ghana, the study … higher productivity. However, awareness of appropriate sources, and access to a more formal finance, are found to be … associated with productivity edge. Having access to semi-formal and formal financial institutions do not only afford …
Persistent link: https://www.econbiz.de/10013143277
This paper provides a unified theory to explain the onset of the financial crisis in 1998 and the striking economic …
Persistent link: https://www.econbiz.de/10010440962
Strong financial markets are widely thought to propel economic development, with many in finance seeing legal tradition as fundamental to protecting investors sufficiently for finance to flourish. Kenneth Dam, in the Law-Growth Nexus, finds that the legal tradition view inaccurately portrays how...
Persistent link: https://www.econbiz.de/10013039325
It has become almost standard practice in Delaware appraisal proceedings for the courts to adjust discount rates downward by the projected rate of inflation and GDP growth so as to reflect the prospect of higher future returns because of these factors. Since the value of a business varies...
Persistent link: https://www.econbiz.de/10012995998