Institutions, innovations, and growth

Article Abstract:

A study was conducted to analyze how financial institutions influence technological innovation and affect growth. The popularity of external financing as a medium to harden budget constraints was examined. The functions supported by financial institutions in research and development was then discussed. Results indicated that external financing is high in pharmaceutical, electronics and computer industries, especially when companies are young.

Research & Development, Scientific Research and Development Services, Financial Services, Finance and Insurance, Financial Corporations, Economic aspects, Research institutes, Research, Financial institutions, Technological innovations

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Bureaucratic control and the soft budget constraint

Article Abstract:

Analysis of soft budget constraint (SBC) prevalence in bureaucratically controled enterprises reveals that the incentive problem of the bureaucrats who control the state sector necessarily leads to SBC. The study also reveals that control is similar to that of capitalist economies and that they differ only in the fact that bureaucratic enterprises lack information derived from market equity.

Economics, Research and Development in the Social Sciences and Humanities, Analysis, Reports, Economic research, Business failures, Comparative economics

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