Showing 1 - 10 of 12
We capitalize on the latest developments in the empirical structural gravity literature to revisit the question of whether and how much does GATT/WTO membership affect international trade. We are the first to capture the non-discriminatory nature of GATT/WTO commitments by measuring the effects...
Persistent link: https://www.econbiz.de/10012030680
We capitalize on the latest developments in the empirical structural gravity literature to revisit the question of whether and how much does GATT/WTO membership affect international trade. We are the first to capture the non-discriminatory nature of GATT/WTO commitments by measuring the effects...
Persistent link: https://www.econbiz.de/10012025569
Banks (but not stock markets) promote economic growth by facilitating relationship-specific investment between buyers and suppliers of intermediate goods. Combined insights from literature on signaling role of banks and on relationship-specific investment motivate this economic channel: A...
Persistent link: https://www.econbiz.de/10013037905
An influential strand of literature starting with the Nobel Prize winning work of Oliver Williamson (1971, 1975) argues that a rational agent underinvests in relationship-specific assets due to the possibility of an opportunistic behaviour on the part of her contractual partner. We first combine...
Persistent link: https://www.econbiz.de/10013133692
Persistent link: https://www.econbiz.de/10003985642
Existing literature sees opportunistic behaviour of contractual partners as the main reason why rational agents underinvest in relationship-specific assets. We look beyond this well-know holdup problem and argue that financial vulnerability and short-term planning horizon can also lead to such...
Persistent link: https://www.econbiz.de/10009010059
Persistent link: https://www.econbiz.de/10009011745
Persistent link: https://www.econbiz.de/10009746562
Persistent link: https://www.econbiz.de/10010360435
Persistent link: https://www.econbiz.de/10011610686