The paper examines the effects on growth of both private and public investment in health, schooling and culture: in short, education. These expenditures exert two effects on the growth rate: (i)they increase labour and capital stock productivity through a positive externality, and (ii) they modify saving and investment decisions through the substitutability between education and private consump...

Private R&D is a major source of innovation and productivity growth in agriculture worldwide. This paper examines trends and determinants of agricultural R&D in China. Results show that while the public sector monopolized agricultural research until recently, private agricultural R&D has grown rapidly since 2000, driven largely by agribusiness privatization. Public-sector R&D investments in bas...

This study examined the effect of public investment on private and their relative effects Ethiopia economic growth. The employed ARDL bounds testing approach. empirical results revealed that has a crowding-in in long run which means, stimulates run. However, crowding out investment. In other word, no direct impact growth significant positive while it is negatively related to short suggests posi...

in the presence of uncertainty about what a country can be good at producing, there can be great social value to discovering costs of domestic activities, because such discoveries can be easily imitated. two failures of the laissez – faire outcome are being highlighted: there is too little investment and entrepreneurship ex ante, and too much production diversi-fication ex post. optimal policy ...

This paper examines how public disclosure affects private information acquisition activity in a market economy. We analyze a setting where traders with short-term investment horizons are allowed to trade on their private information prior to a public disclosure. We demonstrate in this setting that public disclosure stimulates investment in private information acquisition. This result is shown t...

‘Civil war, private portfolios and growth in Africa’ The thesis will provide analytical insights and empirical evidence on civil war, private portfolios and growth in Africa. It will investigate the following questions. How much capital flows out during civil war? How much comes back and what is that contingent upon? In addition, there will be econometric analysis of the relationship between ca...

Uncertainty about future productivity and demand conditions varies strongly over time, rising by 50 percent to 100 percent during recessions and by 100 percent to 200 percent after major political and economic shocks. These fluctuations in uncertainty appear to generate fluctuations in investment, hiring, and productivity, because higher uncertainty generates a temporary slowdown as firms postp...

This paper shows that, with (partial) irreversibility, higher uncertainty reduces the impact effect of demand shocks on investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed both numerically for a model with a rich mix of adjustment costs, time-varying uncertainty, and aggregation over investment decisions and time, and...