This paper examines the impact of industrial policy on capital structure based on a partial adjustment model of capital structure that incorporates financial flexibility, macroeconomic conditions, economic development as well as firm-level factors. The issue is investigated in the context of Taiwan where industrial policy is widely considered to have played a strategic role in its economic succ...

BACKGROUND Improved sanitation has been shown to have great impacts on people's health and economy. However, the progress of achieving the Millennium Development Goals (MDGs) on halving the proportion of people without access to clean water and basic sanitation by 2015 has thus far been delayed. One of the reasons for the slow progress is that policy makers, as well as the general public, have ...

| December 2015 | 1218 In spite of an emphasis on high quality and quantity of Iranian publications in this article,[2] it should be noted that the complete cycle of science is not summarized in the first chain (science-production). Indeed, the production of technology and the achievement of economic development should be put in the context of scientific and research activities. Scientific prog...

China’s state-guided economic miracle has revitalized a long-standing and unsettled debate about the role of government in transformative economic development. In a firm-level study of corporate governance we examine whether direct state involvement actually makes a positive contribution to the economic performance of newly incorporated firms in China’s urban economy. We show that direct interv...

The role of health in economic development is analyzed via two channels: the direct labor productivity e¤ect and the indirect incentive e¤ect. The labor productivity hypothesis asserts that individuals who are healthier have higher returns to labor input. This is well tested in the empirical literature with mixed conclusions. The incentive e¤ect is borne of the theoretical literature, and indiv...

The paper examines the causal nexus between financial development, economic growth and poverty reduction in India during 1951-2008. The empirical analysis is based on cointegration and causality test. The cointegration test finds the presence of long run equilibrium relationship between financial development, economic growth and poverty reduction. The Granger causality test at the end confirms ...

The expected decline of health indicators with economic recessions and improvement with economic growth in the nineteenth century Sweden was reversed in the twentieth century, giving the counterintuitive pattern of higher mortality and lower life expectancy in economic expansions and improvement of these indices in recessions. The change or "tipping point" occurred at the end of the nineteenth ...

BACKGROUND The frequent outbreak of environmental threats in China has resulted in increased criticism regarding the health effects of China's urbanization. Urbanization is a double-edged sword with regard to health in China. Although great efforts have been made to investigate the mechanisms through which urbanization influences health, the effect of both economic development and urbanization ...