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International Rd Spillovers And Institutions
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Book Synopsis International R&D Spillovers and Institutions by : Mr.David T. Coe
Download or read book International R&D Spillovers and Institutions written by Mr.David T. Coe and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-04-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The empirical analysis in "International R&D Spillovers" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in Coe and Helpman about the impact of domestic and foreign R&D capital stocks on TFP. In addition, we show that domestic and foreign R&D capital stocks have measurable impacts on TFP even after controlling for the impact of human capital. Furthermore, we extend the analysis to include institutional variables, such as legal origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional characteristics. The results suggest that institutional differences are important determinants of total factor productivity and that they impact the degree of R&D spillovers.
Book Synopsis Labor Market Institutions and the Distribution of Wages, 1973-1992 by : John Enrico DiNardo
Download or read book Labor Market Institutions and the Distribution of Wages, 1973-1992 written by John Enrico DiNardo and published by . This book was released on 1995 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a semiparametric procedure to analyze the effects of institutional and labor market factors on recent changes in the U.S. distribution of wages. The effects of these factors are estimated by applying kernel density methods to appropriately 'reweighted' samples. The procedure provides a visually clear representation of where in the density of wages these various factors exert the greatest impact. Using data from the Current Population Survey, we find, as in previous research, that de-unionization and supply and demand shocks were important factors in explaining the rise in wage inequality from 1979 to 1988. We find also compelling visual and quantitative evidence that the decline in the real value of the minimum wage explains a substantial proportion of this increase in wage inequality, particularly for women. We conclude that labor market institutions are as important as supply and demand considerations in explaining changes in the U.S. distribution of wages from 1979 to 1988.
Book Synopsis R&D and Productivity by : Zvi Griliches
Download or read book R&D and Productivity written by Zvi Griliches and published by University of Chicago Press. This book was released on 2007-12-01 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zvi Griliches, a world-renowned pioneer in the field of productivity growth, has compiled in a single volume his pathbreaking research on R&D and productivity. Griliches addresses the relationship between research and development (R&D) and productivity, one of the most complex yet vital issues in today's business world. Using econometric techniques, he establishes this connection and measures its magnitude for firm-, industry-, and economy-level data. Griliches began his studies of productivity growth during the 1950s, adding a variable of "knowledge stock" to traditional production function models, and his work has served as the point of departure for much of the research into R&D and productivity. This collection of essays documents both Griliches's distinguished career as well as the history of this line of thought. As inputs into production increasingly taking the form of "intellectual capital" and new technologies that are not as easily measured as traditional labor and capital, the methods Griliches has refined and applied to R&D become crucial to understanding today's economy.
Book Synopsis Mapping the Two Faces of R&D by : Rachel Griffith
Download or read book Mapping the Two Faces of R&D written by Rachel Griffith and published by . This book was released on 2000 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Making Foreign Direct Investment Work for Sub-Saharan Africa by : Thomas Farole
Download or read book Making Foreign Direct Investment Work for Sub-Saharan Africa written by Thomas Farole and published by World Bank Publications. This book was released on 2014-01-13 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the results of a groundbreaking study on ‘spillovers’ of knowledge and technology from global value-chain oriented foreign direct investment (FDI) in Sub-Saharan Africa, and discusses implications for policymakers hoping to harness the power of FDI for economic development.
Book Synopsis Innovation and Public Policy by : Austan Goolsbee
Download or read book Innovation and Public Policy written by Austan Goolsbee and published by University of Chicago Press. This book was released on 2022-03-25 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A calculation of the social returns to innovation /Benjamin F. Jones and Lawrence H. Summers --Innovation and human capital policy /John Van Reenen --Immigration policy levers for US innovation and start-ups /Sari Pekkala Kerr and William R. Kerr --Scientific grant funding /Pierre Azoulay and Danielle Li --Tax policy for innovation /Bronwyn H. Hall --Taxation and innovation: what do we know? /Ufuk Akcigit and Stefanie Stantcheva --Government incentives for entrepreneurship /Josh Lerner.
Book Synopsis The Internationalization of Equity Markets by : Jeffrey A. Frankel
Download or read book The Internationalization of Equity Markets written by Jeffrey A. Frankel and published by University of Chicago Press. This book was released on 2008-04-15 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.
Book Synopsis Rules for International Monetary Stability by : Michael D. Bordo
Download or read book Rules for International Monetary Stability written by Michael D. Bordo and published by Hoover Press. This book was released on 2017-04-01 with total page 381 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the Great Recession in 2009 the central banks of the advanced countries have taken unprecedented actions to reflate and stimulate their economies. There have been significant differences in the timing and pace of these actions. These independent monetary policy actions have had significant spillover effects on the economies and monetary policy strategies of other advanced countries. In addition the monetary policy actions and interventions of the advanced countries have had a significant impact on the emerging market economies leading to the charge of 'currency wars.' The perceived negative consequences of spillovers from the actions of national central banks has led to calls for international monetary policy coordination. The arguments for coordination based on game theory are the same today as back in the 1980s, which led to accords which required that participant countries follow policies to improve global welfare at the expense of domestic fundamentals. This led to disastrous consequences. An alternative approach to the international spillovers of national monetary policy actions is to view them as deviations from rules based monetary policy. In this view a return to rules based monetary policy and a rolling back of the " global great deviation" by each country's central bank would lead to a beneficial policy outcome without the need for explicit policy coordination. In this book we report the results from a recent conference which brought together academics, market participants, and policy makers to focus on these issues. The consensus of much of the conference was on the need for a classic rules based reform of the international monetary system.
Book Synopsis Spillover: Animal Infections and the Next Human Pandemic by : David Quammen
Download or read book Spillover: Animal Infections and the Next Human Pandemic written by David Quammen and published by W. W. Norton & Company. This book was released on 2012-10 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: A masterpiece of science reporting that tracks the animal origins of emerginghuman diseases.
Book Synopsis Global Growth and Financial Spillovers and the South African Macro-economy by : Mthuli Ncube
Download or read book Global Growth and Financial Spillovers and the South African Macro-economy written by Mthuli Ncube and published by Palgrave Macmillan. This book was released on 2015-12-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: To what extent is South Africa affected by G8 economies and BRIC growth shocks? This book identifies channels that amplify these shock effects, the relevance of third country transmission effects and the effects of the first and second rounds of US quantitative easing. The changing reactions of South African variables over time to financial shocks emanating from the US and selected countries in the Euro area, is presented. The book quantifies the effects of capital flow shocks, determines the counterfactuals of asset prices and economic growth variables, and compares the contribution of capital flows and domestic macro factors on asset prices. The effects of the exchange rate depreciation are contrasted to the decline in investment as key drivers of the trade balance. Stock market interdependence is determined amongst South African, Indian and Brazilian equities. The contributions of stock price returns and volatility on South African economic growth are contrasted. The authors construct a financial stress index for South Africa and determine how it amplifies shocks.
Book Synopsis North-South RandD Spillovers by : Mr.David T. Coe
Download or read book North-South RandD Spillovers written by Mr.David T. Coe and published by International Monetary Fund. This book was released on 1994-12-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the extent to which developing countries that do little, if any, research and development themselves benefit from R&D that is performed in the industrial countries. By trading with an industrial country that has a large “stock of knowledge” from its cumulative R&D activities, a developing country can boost its productivity by importing a larger variety of intermediate products and capital equipment embodying foreign knowledge, and by acquiring useful information that would otherwise be costly to obtain. Our empirical results, which are based on observations over the 1971-90 period for 77 developing countries, suggest that R&D spillovers from the industrial countries in the North to the developing countries in the South are substantial.
Book Synopsis Identifying Technology Spillovers and Product Market Rivalry by : Nicholas Bloom
Download or read book Identifying Technology Spillovers and Product Market Rivalry written by Nicholas Bloom and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants of Cross-border Equity Flows by : Richard Portes
Download or read book The Determinants of Cross-border Equity Flows written by Richard Portes and published by . This book was released on 2000 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We apply a new approach to a new panel data set on bilateral gross cross-border equity flows between 14 countries, 1989-96. The model integrates elements of the finance literature on portfolio composition and the international macroeconomics and asset trade literature. Gross asset flows depend on market size in both source and destination country as well as trading costs, in which both information and the transaction technology play a role. Distance proxies some information costs, and other variables explicitly represent information transmission, an information asymmetry between domestic and foreign investors, and the efficiency of transactions. The remarkably good results have strong implications for theories of asset trade. We find that the geography of information is the main determinant of the pattern of international transactions, while there is little support in our data for diversification and return-chasing motives for transactions."--Authors.
Book Synopsis Information Spillovers and Market Integration in International Finance by : Suk-Joong Kim
Download or read book Information Spillovers and Market Integration in International Finance written by Suk-Joong Kim and published by World Scientific Publishing Company. This book was released on 2017 with total page 626 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contents in this volume are based on the program Sets and Computations that was held at the Institute for Mathematical Sciences, National University of Singapore from 30 March until 30 April 2015. This special collection reports on important and recen
Author :Philippe Aghion Publisher :London : Department of Economics, University of Western Ontario ISBN 13 :9780771411168 Total Pages :0 pages Book Rating :4.4/5 (111 download)
Book Synopsis A Model of Growth Through Creative Destruction by : Philippe Aghion
Download or read book A Model of Growth Through Creative Destruction written by Philippe Aghion and published by London : Department of Economics, University of Western Ontario. This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of knowledge and the resulting process or industrial innovations. This has both positive and normative implications for growth. In positive terms, the prospect of a high level of research in the future can deter research today by threatening the fruits of that research with rapid obsolescence. In normative terms, obsolescence creates a negative externality from innovations, and hence a tendency for laissez-faire economies to generate too many innovations, i.e too much growth. This "business-stealing" effect is partly compensated by the fact that innovations tend to be too small under laissez-faire. The model possesses a unique balanced growth equilibrium in which the log of GNP follows a random walk with drift. The size of the drift is the average growth rate of the economy and it is endogenous to the model ; in particular it depends on the size and likelihood of innovations resulting from research and also on the degree of market power available to an innovator.
Book Synopsis International Institutions by : Judith Goldstein
Download or read book International Institutions written by Judith Goldstein and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Although transnational actors are not new on the world stage the number and type of these international entities expanded dramatically after World War II. This set examines both the rise of these new transnational actors and their effect on international politics and policies.
Book Synopsis Sovereign Rating News and Financial Markets Spillovers by : Bertrand Candelon
Download or read book Sovereign Rating News and Financial Markets Spillovers written by Bertrand Candelon and published by International Monetary Fund. This book was released on 2011-03-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The sign and magnitude of the spillover effects depend both on the type of announcements, the source country experiencing the downgrade and the rating agency from which the announcements originates. However, we also find evidence that downgrades to near speculative grade ratings for relatively large economies such as Greece have a systematic spillover effects across Euro zone countries. Rating-based triggers used in banking regulation, CDS contracts, and investment mandates may help explain these results.
