This paper builds on the assumption that countries behave in such a way as to improve, via their economic strength, the probability that they will attain the hegemonic position on the world stage. The quest for hegemony is modeled as a game, with countries being differentiated initially only by some endowment which yields a pollution free flow of income. A country’s level of pollution is assume...

Financing is the bottleneck that restricting the development of China's small and medium enterprises. The root cause of financing difficulty for SMEs is the serious information asymmetry that exists between financial institutions, which lead to adverse selection and moral hazard. In this paper, financing theories of SMEs information dissymmetry and credit rationing theories are used to analyze ...

This EIF Working Paper takes a holistic approach to investigate SME financing patterns in Europe by performing a cluster analysis including 12,726 SMEs in 28 European countries. The results reveal that SME financing in Europe is not homogenous but that different financing patterns exist. The cluster analysis identifies six distinct SME financing types: mixed-financed SMEs, statesubsidised SMEs,...

In recent years, with the quickly development of the supply chain finance, the cost of corporate finance would become an important way for enterprises to solve their financial problems. In China, the financing model of supply chain finance mainly for accounts receivable financing, inventory financing pledge financing, advances and financing. Three financing models are used in different larger c...

While Rice may not have lost as much as of its investments as other universi t ies, its endowment still took a hit dur ing the most recent recession. For fiscal year 2009, Rice incurred an 18.2-percent loss on the e n d o w m e n t ' s investment returns, worth about $838 million. The university also spent $215 million of the endowment , $55 million of which was recouped in endowment gifts, acc...

INTRODUCTION Health care financing provides the resources and economic incentives for operating health systems and is a key determinant of health system performance. Equitable financing is based on: financial protection, progressive financing and cross-subsidies. This paper describes Uganda's health care financing landscape and documents the key equity issues associated with the current financi...

The question of how initial resource endowments—the stocks of resources that entrepreneurs contribute to their new ventures at the time of founding—affect organizational life chances is one of significant interest in organizational ecology, evolutionary theory, and entrepreneurship research. Using data on the life histories of all 134 firms founded to exploit MIT-assigned inventions during the ...

Starting with Knetsch (1989), experiments on the “endowment effect” (Thaler 1980) typically rely on a two-stage procedure. In the first stage, subjects are endowed with a good, such as a mug. In the second stage, the same subjects are given the opportunity to trade this good for another good of similar value, such as a pen. The endowment effect holds that very few subjects chose to trade, somet...

Publication of dislocate is made possible by the generous support of the Lerner Foundation; we thank the Foun dation for their continued involvement. We are also grateful to the following organizations and individuals for their assistance: the Edelstein-Keller Endowment, We are informed and inspired by the ghosts of dislocate past and are especially grateful to previous editors Jennifer Fossenb...