A strategic alliance ‘enables a firm to focus resources on its core skills and competencies while acquiring other components or capabilities it lacks from the marketplace’. Such alliances extend beyond research, the focus of this paper, and take a variety of forms. My own preference is for the ‘operating entity’ and ‘secretariat’ classification of Ouchi and Vonortas, which at least have the mer...

The inclusion of a labour/leisure choice in endogenous growth models has interesting and somewhat counter-intuitive e ects. In existing one sector models a condition for indeterminacy is that labour demand is upwardsloping, which is di cult to reconcile with evidence. In this paper we give conditions for indeterminacy in a one sector model with decreasing returns to labour. We show that this re...

Improving access to the formal health care sector is a primary public health goal in many low-income countries. But the returns to this access are unclear, given that the quality of care at public health facilities is often considered inadequate. We exploit temporal and geographic variation in the cost of traveling to formal sector health facilities to show that treatment at these facilities im...

In this article we perform production efficiency analysis for the 40 countries with largest value added by agricultural sector in 2005. Under the assumption of a nonparametric frontier and production observations satisfying a statistical model including both random and inefficiency errors, we estimate an agricultural production function using DEA measures of efficiency with output orientation a...

We consider a two-sector economy with positive intersectoral external effects and nonincreasing social returns. We show that if the discount factor r is close to 1 then local indeterminacy may be obtained with mild market imperfections. Moreover, with additional conditions, when r is made smaller the steady state becomes totally unstable and quasi-periodic cycles, along which equilibrium paths ...

We present a two sector dynamic general equilibrium model with externalities coming from both sector-speci ̄c and aggregate economic activity. We ̄nd that including aggregate e®ects does not reduce the overall level of returns to scale needed for indeterminacy. Instead, it simply allows for a trade-o® between the two types of external e®ects. ¤We would like to thank Jess Benhabib and Jang-Ting G...

This study estimates liquidity premiums using the recently developed Liu (2006) measure within a multifactor capital asset pricing model (CAPM) including size premiums and a time varying parameter model for the West African emerging market of Nigeria. The evidence suggests that liquidity factors are relevant only for financial and basic materials sector stocks while size factor is more generall...

This paper examines the interactions between Foreign Direct Investment (FDI), inequality, and growth, both from an empirical and a theoretical point of view. Using a panel of 119 developing countries, we observe that FDI promotes both inequality and growth, and tends to reduce the share of agriculture to GDP in the recipient country. We then set up a growth model of a dual economy in which the ...

A multiple-market framework is developed to measure the size and distribution of research benefits. The model considers an upstream raw product market and a downstream finished product market and allows for imperfect competition in the intermediary food-processing sector. A central conceptual result is derived: an increase in raw product output is a sufficient condition for costreducing innovat...

The East German Wage Structure after Transition We extend the literature on transition economies’ wage structures by investigating the returns to tenure and experience. This study applies recent panel data and estimation approaches that control for hitherto neglected biases. We compare the life cycle structure in East and West German wages for fulltime employed men in the private sector. The pa...