We used confidential and restricted-access data from the Kauffman Firm Survey matched administrative on credit scores to explore racial disparities in access capital for new business ventures. The novel results inequality start-up financing indicate that Black-owned start-ups start smaller stay over entire first eight years of their existence. Black face more difficulty raising external capital...

Ireland's banking system is among the most open in the world, with a significant amount of the industry headquartered in other countries. In this paper we examine the development of the industry in the run up to the recent domestic and international financial crises. We highlight the three distinct categories of banks operating in Ireland, which allows for a more accurate analysis of the intera...

Over the last ten years, the efficacy of heritage as a public good in society has been in steady decline. In 2006, the Productivity Commission (PCR 2006) inquired into the management of Australia’s historical heritage places. It found that more than 90% of the approximate 150,000 listed items nationwide is privately owned, but recommended nonetheless that Australian governments (Federal, State ...

Well over a trillion dollars worth of state-owned firms have been privatized since 1980. The traditional argument is that governments choose to privatize in response to fiscal pressures. In this study, the authors examine the impact of IFI conditionality on privatization and find that IMF conditionality, in particular, has an important indirect economic benefit. Investors are willing to pay mor...

Since the 1980s in France, like in most European countries, governments have had sustained interest in modernising State. The reforms implemented have resulted in huge changes in the management of public employment relations. The transformations are based on three simultaneous processes: the introduction of a more business-like approach, the socalled New Public Management (NPM), the decentralis...

The soft budget constraint hypothesis of Kornai (1980) offers an attractive explanation of overmanning in public enterprises. Sometimes overlooked in the literature is the fact that governments, especially in transition economies, often use state-owned enterprises (SOEs) to pursue non-financial objectives and to finance the resulting social burdens with subsidies and policy loans. In studying a...

We discuss the relative merits of public and private ownership. Our starting point is the analysis of Hart, Schleifer and Vishney (HSV), who apply an incomplete contract framework to study the difference between private and public ownership. Our analysis departs from HSV’s model in two aspects. First, we allow for cost-sharing contracts between the government and the firm. Second, we assume tha...

india is much more integrated with the world economy. both current and capital accounts are complementing to each other. the economic slowdown that appears to have begun in the usa in september, 2008 has some negative impact on indian economy. the most immediate and adverse effect of this global financial crisis on india is an out flow of foreign institutional investment (fii) from the capital ...

The agglomeration of innovation determinants has a significant influence on the innovation performance of industries and enterprises. Such an effect has received less attention in empirical research studies. This study involves a survey of the agglomeration effect of two important innovation determinants, R&D investment and R&D personnel, and its influence on innovation performance from the per...