Foreign direct investment (FDI) has dramatically increased worldwide and is the most important form of all private capital flows to developing countries. Yet, it is an important empirical question whether FDI affects total factor productivity (TFP) positively. We investigate the effect of FDI on TFP growth in a large sample of countries in 1970–2000. Our econometric results indicate that FDI ha...

The paper investigates the impact of the institutional aspects of the innovation±adoption process on the success of its implementation. More speci®cally, we concentrate on the adoption of ®ve information technologies using a data set from the aerospace and defense industries. We investigate such factors as advocacy, breadth of support, time of adoption, and intraorganizational communications. S...

It has been recently shown that manufacturing p-n-junctions, field-effect and bipolar transistors, thyristors in a multilayer structure by diffusion or ion implantation with the optimization of dopant and/or radiation defects leads to increase the sharpness of p-n-junctions (both single p-n-junctions and p-n-junctions framework their system). Due to the optimization, one can also obtain increas...

The study of complex networks and the mechanisms underlying their formation gave an important direction to the research on the diffusion of information. It has been suggested that the network created by scientific citations follow a well-established picture of a scale-free network. Thus, citations should obey the basic mechanisms of preferential attachment, as in other examples of social networ...

As a recent IT innovation, Enterprise Resource Planning (ERP) system has become strategically important to organizations. Yet ERP is difficult to implement, high failure rate has been reported. Researchers and practitioners have pointed out that ignorance of knowledge transfer from consultancy to client was the reason for poor ERP implementation experience considering ERP’s complexity and high ...

The commercial banking business has changed dramatically over the past 30 years, due in large part to technological change. The paper first describes the role of the financial system in economies and how technological change and financial innovation can affect social welfare. We then survey the literature relating to several specific financial innovations – broadly categorized as new products o...

We study the economic forces that drive innovation in credit-risk assessment and the role of regulators in this process. Recent regulatory proposals base capital-adequacy standards on banks’ own internal systems and call for regulators to establish a set of “best practices” for the industry. We find that the dissemination of innovations mandated by this approach generates a tension between lowe...

Energy and carbon intensities of aggregate economic activities, as measured by the gross domestic product, have generally been declining since the onset of industrialization two centuries ago (Grübler and Nakicenovic 1996). This historical tendency can be observed for most countries, and for some throughout the industrialization process during the past two centuries, as will be shown for the Un...

This article tests the hypothesis that the exposure to the threat to societies posed by the introduction of new technologies is associated with a normalization of risk perception. Data collected in 2000 by the International Social Survey Programme (ISSP) on environmental issues were used to explore this hypothesis. Representative samples from 25 countries were employed to assess the national le...