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Author: Robert Lensink Publisher: Edward Elgar Publishing ISBN: 9781782541240 Category : Business & Economics Languages : en Pages : 176
Book Description
This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
Author: Robert Lensink Publisher: Edward Elgar Publishing ISBN: 9781782541240 Category : Business & Economics Languages : en Pages : 176
Book Description
This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
Author: Giorgio Calcagnini Publisher: Springer Science & Business Media ISBN: 3790821314 Category : Business & Economics Languages : en Pages : 237
Book Description
This book is a collection of eleven papers concerned with the effects of market imperfections on the decision-making of economic agents and on economic policies that try to correct the inefficient market outcomes due to those imperfections. As a consequence, real and financial imperfections are related : economic decisions are simultaneously affected by imperfections present both in real and financial markets. Notwithstanding the obvious fact that market interdependence is not novel, scholar interests are typically concentrated on the specific relationship among economic decisions originating from particular imperfections. This explains why, in the case of perfect financial markets, we can speak of "the" us.
Author: Linda R. Cohen Publisher: Brookings Institution Press ISBN: 9780815723684 Category : Business & Economics Languages : en Pages : 428
Book Description
American public policy has had a long history of technological optimism. The success of the United States in research and development contributes to this optimism and leads many to assume that there is a technological fix for significant national problems. Since World War II the federal government has been the major supporter of commercial research and development efforts in a wide variety of industries. But how successful are these projects? And equally important, how do economic and policy factors influence performance and are these influences predictable and controllable? Linda Cohen, Roger Noll, and three other economists address these questions while focusing on the importance of R&D to the national economy. They examine the codependency between technological progress and economic growth and explain such matters as why the private sector often fails to fund commercially applicable research adequately and why the government should focus support on some industries and not others. They also analyze political incentives facing officials who enact and implement programs and the subsequent forces affecting decisions to continue, terminate, or redirect them. The central part of this book presents detailed case histories of six programs: the supersonic transport, communications satellites, the space shuttle, the breeder reactor, photovoltaics, and synthetic fuels. The authors conclude with recommendations for program restructuring to minimize the conflict between economic objectives and political constraints.
Author: William B. Bonvillian Publisher: Oxford University Press ISBN: 0199374538 Category : Business & Economics Languages : en Pages : 381
Book Description
The American economy faces two deep problems: expanding innovation and raising the rate of quality job creation. Both have roots in a neglected problem: the resistance of Legacy economic sectors to innovation. While the U.S. has focused its policies on breakthrough innovations to create new economic frontiers like information technology and biotechnology, most of its economy is locked into Legacy sectors defended by technological/ economic/ political/ social paradigms that block competition from disruptive innovations that could challenge their models. Americans like to build technology "covered wagons" and take them "out west" to open new innovation frontiers; we don't head our wagons "back east" to bring innovation to our Legacy sectors. By failing to do so, the economy misses a major opportunity for innovation, which is the bedrock of U.S. competitiveness and its standard of living. Technological Innovation in Legacy Sectors uses a new, unifying conceptual framework to identify the shared features underlying structural obstacles to innovation in major Legacy sectors: energy, air and auto transport, the electric power grid, buildings, manufacturing, agriculture, health care delivery and higher education, and develops approaches to understand and transform them. It finds both strengths and obstacles to innovation in the national innovation environments - a new concept that combines the innovation system and the broader innovation context - for a group of Asian and European economies. Manufacturing is a major Legacy sector that presents a particular challenge because it is a critical stage in the innovation process. By increasingly offshoring production, the U.S. is losing important parts of its innovation capacity. "Innovate here, produce here," where the U.S. took all the gains of its strong innovation system at every stage, is being replaced by "innovate here, produce there," which threatens to lead to "produce there, innovate there." To bring innovation to Legacy sectors, authors William Bonvillian and Charles Weiss recommend that policymakers focus on all stages of innovation from research through implementation. They should fill institutional gaps in the innovation system and take measures to address structural obstacles to needed disruptive innovations. In the specific case of advanced manufacturing, the production ecosystem can be recreated to reverse "jobless innovation" and add manufacturing-led innovation to the U.S.'s still-strong, research-oriented innovation system.
Author: National Academy of Engineering Publisher: National Academies Press ISBN: 0309046467 Category : Political Science Languages : en Pages : 145
Book Description
This book examines the changing character of commercial technology development and diffusion in an integrated global economy and its implications for U.S. public policies in support of technological innovation. The volume considers the history, current practice, and future prospects for national policies to encourage economic development through both direct and indirect government support of technological advance.
Author: International Monetary Fund. Research Dept. Publisher: International Monetary Fund ISBN: 1589065816 Category : Business & Economics Languages : en Pages : 183
Book Description
This is the final issue for 2006 (Volume 53), and contains another paper in the occasional Special Data Section that seeks to measure financial development in the Middle East and North Africa by utilizing a new database. The issue also contains a comment from Jacques J. Polak on parity reversion in real exchange rates.
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization Publisher: ISBN: Category : Languages : en Pages : 122
Author: Robert Lensink
Author: Robert Lensink
Author: Giorgio Calcagnini
Author: Linda R. Cohen
Author: Stephen S. Cohen
Author: William B. Bonvillian
Author: National Academy of Engineering
Author: Bijan Massrour
Author: Chalmers A. Johnson
Author: International Monetary Fund. Research Dept.
Author: United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization