Capital expenditures are a critical part of hospitals' efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best st...

According to conventional or traditional wisdom, countries that possess rich mineral deposits are fortunate. Such deposits are assets, and so are part of a country’s natural capital. Like an individual or family, the more capital and wealth a nation possesses, the richer and better off it is. In this view of the world, mining is the key that converts dormant mineral wealth into schools, homes, ...

Small farms and smallholder farming systems play crucial roles in agricultural development in many developing countries. From the various rural development programs designed to support such farming systems, agricultural extension services are of at most importance. However, the benefit that farmers obtain from these services and the resulting impact depends, to a great extent, by their direct a...

This article examines how research productivity, administrative service, and teaching affect reputational capital in the market for academic economists. Also, we investigate the issue of the durability of reputational capital, estimating the penalties associated with gaps in research output. Our results reveal that (1) the market makes a distiniction between the quantity and the quality of an i...

We investigate the relationship between venture capital (VC) networks and investment performance in China. Distinct features of China’s VC networks are captured in our econometric model through the inclusion of an index of network stability and a dummy variable that indicates a VC firm’s connections with the Chinese state. Our econometric analysis shows that a VC firm’s position in its network,...

We decompose labor-productivity growth into components attributable to (1) technological change (shifts in the world production frontier), (2) technological catch-up (movements toward or away from the frontier), (3) human capital accumulation (changes in the efficiency of labor), and (4) physical capital accumulation (movement along the frontier). The world production frontier is constructed us...

Resource misallocation can lower aggregate total factor productivity (TFP). We use micro data on manufacturing establishments to try to quantify the extent of this misallocation in China and India in recent years. Viewing the data through the prism of the Melitz model of monopolistically competitive firms, we estimate sizable gaps in marginal products of labor and capital across plants within n...

extended abstract 1. introduction an advantageous development strategy for rural regions, known as rural sustainable development, contrast to the antecedent ones, is based on a systematic and holistic approach which involves fundamental aspects shaping a rural development system and a harmonized bonding between them. given the definitions of sustainable development, its basic components are pro...

This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the ...

Recent relinements in the theory of the firm suggest that organization form may be sensitive not only to the rlegree to which assets are specific to a transaction but afso to the type of capital employed. This paper reports evidence regarding the relative influence of transaction-specilic investments in physical and human capital on the pattern of vertical integration using new data obtained di...