The global value chain under imperfect capital markets
نویسندگان
چکیده
منابع مشابه
The distributional effects of selection and capital accumulation on firm productivity under imperfect capital markets
In this evolutionary model, random shocks create differences in the rate of return on capital, while individual saving and investment behavior can reduce these differences over time. Firms with either low total factor productivity (TFP) or a low average return on capital are selected for exit, and new firms enter to take their place. As would be expected, a higher turnover rate improves TFP and...
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Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...
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ژورنال
عنوان ژورنال: The World Economy
سال: 2019
ISSN: 0378-5920,1467-9701
DOI: 10.1111/twec.12897