one of the present phenomena that virtually explain weaknesses in financial systems of different countries is financial repression. financial repression encompasses the different interferences of governments in financial markets through determining the ceiling interest on bank deposits, high rates of legal reserves, and the government’s interference in distribution of bank credits,which prevent...

With an increasing number of private toll road projects constructed or proposed in the U.S. through various forms of public private partnerships, and with more states removing legal constraints on the entry of private roads into the existing public road system, there are imperative needs to analyze the welfare and financial implications of utilizing private sector capitals in road financing for...

This paper reports on some key indicators of the economic significance of the science base. We ask first what the effects of state funding of the science base are. In particular, we ask how state funding of the science base in the UK affects private sector involvement, including the R&D location decisions of multinational firms. We then ask how public science funding affects private sector prod...

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...

investment and financing it, is one of the crucial discussions in the economics of development and k at the center of the attention of economists. in the economic literature, it is shown that increasing the government, in other words, public sector investment will crowed out private sector investment. in this article we have tried to answer one major question. thut is, whether the public invest...

Technological innovation is vital to enhancing agricultural productivity and reducing poverty in many developing countries. Public investment in research and development has historically driven technological change in agriculture; however, recent trends suggest that the private sector may play a larger role in the future. Although there is optimism about the private sector’s ability to generate...

This study examines the corporate investment behavior during China’s reform era. We apply the Generalized Method of Moments (GMM) estimation to the investment Euler equation models that characterize the Chinese firms’ investment decisions. Based on the estimated structural parameters, we derive the effective discount rate (“implied” cost of capital) perceived by the firm managers to decide inve...

The federal government buys many goods and services that are expected to increase private-sector productivity—that is, the ability of the private-sector workforce, using the stock of capital, to produce goods and services. Such purchases by the federal government are called investment. In an earlier report, the Congressional Budget Office examined various aspects of federal investment itself, s...