Mobile capital, local externalities, and industrialization

Article Abstract:

An economic model was designed to analyze the geographical distribution of industrialization in environments where labor is fixed and capital is mobile. Results were found to be coherent with the principles proposed by Lewis (1954), which state that convergence tend to manifest catching-up episodes. It was also established that while some locations exhibit rapid industrialization, other areas lag behind. Further, it was emphasized that convergence across locations can be observed and accounted for with or with out the presence of local externalities.

Models, Economic research, Industrial development, Industrialization, Capital

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Ownership structure, lending bias, and liquidity constraints: evidence from Shanghai's manufacturing sector

Article Abstract:

An evaluation of Shanghai manufacturing sector performance between 1989 and 1992 reveals that state-owned banks are biased against private enterprises in favor of state-owned companies that are less efficient and have poor investment prospects. The study also reveals that cashflow variables are significant in accounting for investment behavior, that collective owned companies are less cash constrained that state companies and that private companies are more liquidity constrained than state companies in terms of cash availability.

Management Science, Economic aspects, Developing countries, Business budgets, Shanghai, China

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The income of socialist upper classes during the transition to capitalism: evidence from longitudinal East German data

Article Abstract:

An analysis of socialist upper class income during economic transition from socialism to capitalism reveals that upper class membership translates to economic success with the effect growing as transition proceeds. The study seeks to find the social economic mechanism prevalent in Eastern Europe during economic transition and reveals that socialist upper classes had average incomes of 8.5% higher than average households' before the transition and had average income of 12.5% higher than average during transition.

Social aspects, Finance, Eastern Europe, Social economics, Socioeconomics, Income distribution, Upper classes, Upper class

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