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Articles 1 - 7 of 7
Full-Text Articles in Business
The Innovative Organisation, Kwanghui Lim
The Importance Of Financial Market Development On The Relationship Between Loan Guarantees For Smes And Local Market Employment Rates, Ben Criag, William Jackson, James Thomson, Craig Armstrong
The Importance Of Financial Market Development On The Relationship Between Loan Guarantees For Smes And Local Market Employment Rates, Ben Criag, William Jackson, James Thomson, Craig Armstrong
James B Thomson
We empirically examine whether a major government intervention in the small firm credit market yields significantly better results in markets that are less financially developed. The government intervention that we investigate is SBA guaranteed lending. The literature on financing small and medium size enterprises (SMEs) suggests that small firms may be exposed to a particular type of market failure associated with credit rationing. And, SMEs in markets that are less financially developed will likely face a greater degree of this market failure. To test our hypothesis we use the level of bank deposits per capita as our relative measure of …
Institutions Matter: Why The Herder Problem Is Not A Prisoner's Dilemma, Peter Grossman, Daniel Cole
Institutions Matter: Why The Herder Problem Is Not A Prisoner's Dilemma, Peter Grossman, Daniel Cole
Peter Z. Grossman
In the game theory literature, Garrett Hardin’s famous allegory of the “tragedy of the commons” has been modeled as a variant of the Prisoner’s Dilemma, labeled the Herder Problem (or, sometimes, the Commons Dilemma). This brief paper argues that important differences in the institutional structures of the standard Prisoner’s Dilemma and Herder Problem render the two games different in kind. Specifically, institutional impediments to communication and cooperation that ensure a dominant strategy of defection in the classic Prisoner’s Dilemma are absent in the Herder Problem. Their absence does not ensure that players will achieve a welfare-enhancing, cooperative solution to the …
U.S. Energy Policy And The Presumption Of Market Failure, Peter Grossman
U.S. Energy Policy And The Presumption Of Market Failure, Peter Grossman
Peter Z. Grossman
The article presents an analysis of U.S. energy policy, focusing on the question of whether it is able to correct market failures in terms of alternative energy sources. The question of whether any such market failures exist is said to be a separate question, and an argument is presented that governments generally are not competent to fix such problems even when they do exist. A discussion of U.S. energy policy from the early 1970s to the 21st century is presented. Programs designed to encourage technological innovations such as biofeuls, nuclear fusion, and electric vehicles are analyzed.
The Jec Revisited: Did Debt Undermine Stability?, Peter Grossman, Kathy Paulson Gjerde
The Jec Revisited: Did Debt Undermine Stability?, Peter Grossman, Kathy Paulson Gjerde
Kathy A. Paulson Gjerde
The Joint Executive Committee (JEC), one of the most studied cartels in all of economics, was at best partially successful at maintaining collusion. The railroad cartel faced frequent breakdowns and re-contracting efforts. This paper considers the effects that large capital debt may have had on the members of the JEC. The JEC is compared to the express cartel of the period in which all firms were creditors. The latter had no breakdowns during the same period. It is shown through a small modification in an oligopolistic supergame that debt-burdened firms are Jess likely to maintain a stable cartel agreement than …
Knowledge, Capabilities And Manufacturing Innovation: A Us-Europe Comparison, Stephen Roper, Jan Youtie, Philip Shapira, Andrea Fernandez-Ribas
Knowledge, Capabilities And Manufacturing Innovation: A Us-Europe Comparison, Stephen Roper, Jan Youtie, Philip Shapira, Andrea Fernandez-Ribas
Andrea Fernandez-Ribas
This paper presents a comparative analysis of factors contributing to the innovation performance of manufacturing firms in Georgia (USA), Wales (UK), the West Midlands (UK), and Catalonia (Spain). Enabled by comparable survey data, multivariate probit models are developed to estimate how various types of firms’ innovative activities are influenced by links to external knowledge sources, internal resources, absorptive capacity, and public innovation support. The results suggest the potential for mutual learning. For the European study regions there are insights about how universities in Georgia support innovation. For Georgia and Catalonia there are lessons from UK firms about better capturing potential …
Globalization And Economic Integration: Winners And Losers In The Asia-Pacific
Globalization And Economic Integration: Winners And Losers In The Asia-Pacific
Ahmed Khalid
‘Noel Gaston and Ahmed M. Khalid’s volume offers fascinating insights on the development, causes, and consequences of globalization in the Asia-Pacific. The outstanding collection of articles combines theory with rigorous econometrics, making the book a must-read for every student of globalization. At a time where the global crisis gave new arguments to the critics of globalization, the questions raised in this book, and the answers given, are essential reading for academics and politicians alike.’ – Axel Dreher, University of Goettingen, Germany Given the importance of globalization in today’s world, this salutary and timely book explores how globalization is specifically shaping …