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1.
Flora Bellone 《Journal of Evolutionary Economics》2008,18(2):183-199
This paper presents a theory of technological catching-up in which local savings plays a key complementary role to international
finance and foreign technology. Until now, the literature has primarily emphasized “outward orientation” as the key ingredient
of catching-up success. It has indeed been argued that countries which have relied intensively on foreign technologies, either
through capital goods imports or foreign direct investment inflows, have been successful while countries which have opted
for inward-oriented growth strategy relying on domestic investment and import-substitution strategies have been unsuccessful.
In this paper, we develop a sequential model of industrialization in which domestic savings is key to the success of outward-oriented
growth strategies. Indeed, internal finance helps to overcome time-to-adjustment constraints which occur in the early phases
of the catching-up process when both advanced foreign technologies and backward domestic ones co-exist. In this model, external
finance, though international borrowing, and domestic savings are complementary, not substitutable, in the course of technological
catching-up.
相似文献
Flora BelloneEmail: |
2.
Pantelis Pantelidis Efthymios Nikolopoulos 《International Advances in Economic Research》2008,14(1):90-100
This paper investigates the foreign direct investment (FDI) attractiveness for Greece as a host country compared with the
rest of the EU countries. The main objective of this work is to identify the factors that improved or worsened Greece’s attractiveness
during the last few years. An econometric model and a comparative index of FDI attractiveness have been constructed in order
to identify the differences in the attractiveness of the countries. The results obtained prove that during the last few years
Greece’s attractiveness as a host country for FDI has not only improved, but it also has a downward trend. The factors identified
as crucial for the low FDI attractiveness in Greece are inefficient public governance, high taxation, inefficient infrastructure,
and general macroeconomic conditions.
相似文献
Efthymios NikolopoulosEmail: |
3.
This paper investigates the effect of labour characteristics on the decision to adopt new technologies. As a potential endogeneity
problem might arise, we implement estimation techniques that control for endogenous covariates. The results suggest that the
share of skilled employees has a significant positive impact on the likelihood of adoption, providing an additional and interesting
insight in understanding technology adoption. We also find that firms’ nationality does not matter to the adoption process.
The transfer of technology due to foreign investment may not be a widespread phenomenon, casting doubts on the standard internalization
theory of foreign direct investment.
相似文献
Ana Paula FariaEmail: |
4.
Stuart J. Wilson 《Empirical Economics》2006,31(1):261-275
The links between economic growth, investment and migration are explored to determine if one of the mobile factors of production,
capital or labor, led the other to accumulate in Canada during several boom episodes over 1870 to 1927. The results of an
econometric analysis, using time series techniques, suggest that rising per capita incomes led to increased domestic investment
and net immigration, and that foreigners joined the investment booms after domestic residents invested in Canadian development
first.
相似文献
Stuart J. WilsonEmail: |
5.
In the African continent, several regional initiatives have been launched or executed. These gave rise to several groupings
including COMESA consisting of 19 countries, ECOWAS (15 countries), ECCAS (10 countries), and SADC with 15 countries. These
groupings are not exclusive in that several countries belong to more than one regional group. The road to full integration
clearly begins with a regional arrangement. The many groupings in Africa had the long term goal of creating an all inclusive
African Economic Union. The objective is to promote the African continent’s economic growth, political stability, and good
governance. The paper examines the effectiveness of some of these regional grouping in the context of an all-inclusive African
club with the aid of the club model. Using data for the period 1986–2005, costs and benefits of membership are evaluated using
the gravity Model. The Helpman’s size dispersion index is used to identify a potential anchor for a regional grouping.
相似文献
Oswaldo PatinoEmail: |
6.
Open Source Software projects base their operation on a collaborative structure for knowledge exchange in the form of provision
or reception of information, expertise and feedback on the creation of source code. Here, we address the direction of these
knowledge flows among projects throughout social networks and their impact on project success. We identify the roles of membership
or contribution that individuals play within projects. We found that connections through contributors who bring their knowledge
to the project, improve project success, and that connection through members, who transfer their knowledge towards other projects,
enhance project success. Finally, we found that ties through shared membership and contributions hamper project success. The
analysis of knowledge flows and their impact on project success imply a translation of returns from investment in social capital,
where investment takes the shape of knowledge flows and the returns mean the projects’ diffusion over the network.
相似文献
Clara E. GarcíaEmail: |
7.
We present a two-sector endogenous growth model with human and physical capital accumulation to analyze the long-run relationship
between population growth and real per capita income growth. Formal education and investment in physical capital are assumed
to be two separate components of human capital production. Along the balanced growth path equilibrium, population change may
have a positive, negative, or else neutral effect on economic growth depending on whether physical and human capital are complementary/substitutes
for each other in the formation of new human capital and on their degree of complementarity.
相似文献
Davide La TorreEmail: |
8.
Naa Anyeley Akofio-Sowah 《International Advances in Economic Research》2009,15(3):296-309
This paper investigates the relationship between the monetary regime: pegged, currency board, dollarization, and the exchange
rate pass-through for a sample consisting of 15 Sub-Saharan Africa countries and 12 Latin American countries. The research
findings about pass-through rates will shed light on the feasibility of a monetary union for Sub-Saharan Africa. The inclusion
of the latter country group was deemed desirable to explore pass-through behavior in several monetary regime options not often
used in Sub-Saharan Africa.
相似文献
Naa Anyeley Akofio-SowahEmail: |
9.
Dobdinga C. Fonchamnyo 《International Advances in Economic Research》2009,15(3):322-335
For more than two decades, the majority of countries in the African continent have experienced repeated episodes of rising
external debt and debt service, which has led to numerous efforts of external debt relief. This paper provides new evidence
on the effects of the Heavily Indebted Poor Countries (HIPC) Initiative on different economic and social indicators in 60
low income countries (LICs). Results show that LICs that were included in the HIPC Initiative marginally performed better
than non-HIPC countries. There is evidence that countries that have reached the completion point of the HIPC Initiative by
2005 have experienced an average improvement in investment, health care, gross secondary education enrollment, and GDP per
capita growth.
相似文献
Dobdinga C. FonchamnyoEmail: |
10.
Export variety and the economic performance of countries 总被引:3,自引:0,他引:3
We explore the relationship between export variety and economic development, using data on OECD countries between 1964 and
2003. We show that structural change in the world economy has a particular arrow of time leading to a growing variety of exports.
Distinguishing between related variety (within sectors) and unrelated variety (variety between sectors), we also show that
related variety stimulates growth instantaneously, while unrelated variety only promotes growth with a considerable time lag.
This finding is in line with the evolutionary notions that economic development and international trade patterns are path
dependent.
相似文献
Koen FrenkenEmail: |
11.
Farrokh Nourzad 《International Advances in Economic Research》2008,14(1):25-35
This paper uses a stochastic translog production frontier to estimate technical inefficiency indices whose conditional mean
is specified as a function of FDI and its interaction with openness of the economy. The model is estimated using an annual
panel of 46 countries for the years, 1981–2001. The results suggest that increased FDI increases potential output in both
developed and developing countries with the effect being more profound in the former. It is also found that increased FDI
reduces technical inefficiencies the more open is the economy but that this effect holds only for developed economies. Thus
qualified support is found for the “Bhagwati hypothesis” as the results reveal that the efficiency–enhancing effect of FDI
depends not only on openness but also on the degree of development of the host country.
相似文献
Farrokh NourzadEmail: |
12.
The relationship between insurance and economic growth in Europe: a theoretical and empirical analysis 总被引:1,自引:0,他引:1
The role of insurance companies, although growing in importance in financial intermediation, has received less attention than
bank and stock markets and if so, mainly as a provider of risk transfer in single country or very heterogeneous samples. We
investigate both the impact of insurance investment and premiums on GDP growth in Europe. We conduct a cross-country panel
data analysis from 1992 to 2005 for 29 European countries. We find a positive impact of life insurance on GDP growth in the
EU-15 countries, Switzerland, Norway and Iceland. For the New EU Member States from Central and Eastern Europe, we find a
larger impact for liability insurance. Furthermore our findings emphasise the impact of the real interest rate and the level
of economic development on the insurance-growth nexus. We argue that the insurance sector needs to be paid more attention
in financial sector analysis and macroeconomic policy.
相似文献
Kjell Sümegi (Corresponding author)Email: |
13.
This study examines the impact of a stamp tax rate increase on market behavior, using data from two stock exchanges in China. We find that when the tax rate increases from 0.3 to 0.5% (which implies that the transaction cost increases by about 1/3) trading volume decreases by 1/3. This implies an elasticity of turnover with respect to a stamp tax of −50% and an elasticity of turnover with respect to transaction cost of −100%. The markets’ volatility significantly increases after the increase in the tax rate. Furthermore, the change in the volatility structure indicates that the markets become less efficient in the sense that shocks are less quickly assimilated in the markets.
相似文献
Badi H. Baltagi (Corresponding author)Email: |
Dong LiEmail: |
Qi LiEmail: |
14.
We estimate quarterly cointegrating vector autoregressive models for the Eurozone and the USA based on long-run restrictions
derived from a dynamic open economy model. Three long-run relations between the Eurozone and the USA emerge: relative purchasing
power parity, international interest parity and a stationary output gap between the two economies. Generalized impulse response
functions show differences in the dynamic adjustment of the two economies. Due to the I(1)-characteristic of both output series
and the stability conditions imposed by the long-run equilibrium relationships, shocks to the model produce level effects
only, while growth rates converge to their long-run averages.
相似文献
Thomas UrlEmail: |
15.
The primary focus of this work is on the nature of the privatization debate rather than on an attempt to explore the truth
or validity of each of the many claims and counterclaims that have been made for the practice of privatization. The main objective
is to discover why the issues remain controversial and whether there are prospects for reconciliation. The results obtained
from the evidence examined suggest there is no well-formed theory of privatization, and no well-formed opposing theory. In
the absence of a convincing theory, the authors conclude they expect the debate to continue on the lines of competition, free
markets and choice versus complaints about unfulfilled promises and unexpected costs, corruption scandals and disadvantages
to the poor, and suggest possible ways forward.
相似文献
John DonaldsonEmail: |
16.
This study presents an analysis of dividend-driven trading strategies based on dividend yield growth effects in the Polish
stock market in the years 1994–2004. Results indicate that the dividend yield growth portfolios were capable of beating the
market in the entire sample period. Their performance, however, was not consistent over time and the highest returns were
obtained during final years. Empirical findings based on the analysis of different types of portfolios demonstrate the importance
of dividends as a source of significant fundamental information items from stock market companies. At the same time, they
show that a dividend investment strategy for the Polish stock market is most successful when the selection of stocks for the
dividend yield growth portfolios is subject to further restrictions, most notably concerning company size.
相似文献
Jerzy GajdkaEmail: |
17.
This paper uses QUEST III, a multi-region DSGE model, to study the macroeconomic effects of a gradual equalization of official
foreign reserves between dollars and euros. We simulate a scenario of a shift in the composition of foreign reserves holdings
from the present ratio of 65% dollars and 25% euros to equal 45% shares over a 10 years period. We assume imperfect substitutability
between financial assets to allow this shift to have real effects. Our simulations point towards small real effects due to
the reduction in real interest rates resulting from this shift in official holdings.
相似文献
Jan in’t VeldEmail: |
18.
We analyze the role of vertical innovation in trade patterns for developing economies trading with technologically advanced
countries. A model is presented where the international diffusion of knowledge, promoted by economic integration, is the source
of a technological catching up and leads to a convergence in the quality of traded goods, with a positive effect on exports.
We then turn our attention on the evolution of trade between the Central and Eastern European countries (CEECs-5) and their
European Union partner countries, assessing whether economic integration has increase the quality of the goods produced. For
the period 1995–2005, we find evidence of the increasing role of intra-industry trade and vertical differentiation and a process
of specialization in higher quality products, especially in the medium- and high-skill sectors.
相似文献
Marcella Mulino (Corresponding author)Email: |
19.
Nicole Bissessar 《International Advances in Economic Research》2009,15(3):336-350
Corruption is said to be characterized by persistence. This conclusion is derived from the theoretical literature, although
little empirical evidence exists to support it. Using corruption ratings data from the Political Risk Services Group, International
Country Risk Guide on 110 countries from 1984 through 2006, I seek to determine whether or not corruption has actually exhibited
persistence over this period. The Markov Transition Chain Matrices were used in the empirical analysis. The calculations show
that corruption does persist in more than half of the sample. Next I focus on two regions: Sub-Saharan Africa, the Middle
East, and North Africa. The analysis shows these regions to be characterized by persistent corruption.
相似文献
Nicole BissessarEmail: |
20.
Corrado Andini 《Portuguese Economic Journal》2009,8(1):15-22
In a seminal paper, Levine et al. (J Monet Econ 46:31–77, 2000) provide cross-sectional evidence showing that financial development has positive average impact on long-run growth, using
a sample of 71 countries. We argue that the evidence is sensitive to the presence of outliers.
相似文献
Corrado AndiniEmail: |