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Full-Text Articles in Social and Behavioral Sciences
Cross-Border Technology Investments In Recession, Juliana Yu Sun, Huanhuan Zheng
Cross-Border Technology Investments In Recession, Juliana Yu Sun, Huanhuan Zheng
Research Collection School Of Economics
Utilizing industry-level foreign direct investment (FDI) from 72 source markets to 122 destination markets between 2003 to 2018, we evaluate how cross-border technology investments respond to economic recessions. We find that FDI embedded with intensive research and development (R&D) drops when the destination market is in a recession and the source market is in a normal state and recovers to the pre-recession levels when both destination and source markets are in recession. However, there is little evidence that recessions affect cross-border investments in other aspects of technology measured by the penetration of robots, intellectual property products and information and communications …
Is Democracy Good For Growth? | Development At Political Transition Time Matters, Di Sima, Fali Huang
Is Democracy Good For Growth? | Development At Political Transition Time Matters, Di Sima, Fali Huang
Research Collection School Of Economics
Is democracy a better political regime for economic prosperity than autocracy? This paper shows that the answer depends on the initial economic development level during the democratic transition when the foundation of institutions was laid. Democracy facilitates growth only in countries that already have adequate development at transition time. These countries are more likely to create and sustain growth-enhancing institutions than others. Without appropriate development, democracy does not improve growth; this applies to about 40% of the third-wave democratized countries. These results are based on a sample of 153 countries in 1960–2010 and robust to various specifications and endogeneity issues.
Is Democracy Good For Growth? Development At Political Transition Time Matters, Di Sima, Fali Huang
Is Democracy Good For Growth? Development At Political Transition Time Matters, Di Sima, Fali Huang
Research Collection School Of Economics
Is democracy a better political regime for economic prosperity than autocracy? This paper shows that the answer depends on the initial economic development level during the democratic transition when the foundation of institutions was laid. Democracy facilitates growth only in countries that already have adequate development at transition time. These countries are more likely to create and sustain growth-enhancing institutions than others. Without appropriate development, democracy does not improve growth; this applies to about 40% of the third-wave democratized countries. These results are based on a sample of 153 countries in 1960–2010 and robust to various specifications and endogeneity issues.