Structural change and decisions on investment allocation

Structural Change and Decisions on Investment Allocation

In this article the growth models of Feldman (1928) and Mahalanobis (1953) are extended to analyse the implications of the process of structural change on the decisions of investment allocation. By using the device of vertical integration, their constructions are shown to be a particular case of the Pasinetti’s (1981) model of structural change. Their analysis is then carried out in a multi-sec...

Preliminary Controlling Investment Decisions: Hurdle Rates and Intertemporal Cost Allocation

Investment Specific Technological Progress and Structural Change

In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess the effects of embodied technical progress on economic growth and macroeconomic variables. Our findings suggest that despite the fact that this type of technical progress increases the productivity of capital, it has negative effects on conditions that promote full...

Decisionmetrics: Dynamic Structural Estimation of Shipping Investment Decisions

This dissertation develops structural models for analyzing shipping investment decisions, namely ordering, scrapping and lay-up decisions in the tanker industry. We develop models, based on a microeconomic specification, that allow us to understand the dynamics of shipping investment decisions under uncertainty and test interrelated economic assertions with aggregate data. The main framework is...

Corporate Governance and the Financing of Investment for Structural Change

Discussions of financial systems tend to identify banks (financial intermediaries) and markets as the major institutions determining the workings of the financial system as it guides the flow of funds from the household sector to the production sector of the economy. The contrast of "bankdominated" and "market-oriented" financial systems has for a long time occupied centre stage of the literatu...