capital

The paper reviews the macroeconomic data describing the British economy during the industrial revolution and shows that they contain a story of dramatically increasing inequality between 1800 and 1840: GDP per worker rose 37%, real wages stagnated, and the profit rate doubled.

The author uses firm data from 10 Western European countries to contrast the sources of leverage across small and large firms. The author jointly evaluates the explanatory power of firm-specific, country of incorporation institutional, and macroeconomic factors.

The authors use a recursive modeling approach to study whether investors could, in real time, have used information on the comovement of stock markets to forecast stock returns in European stock markets for high-technology firms.

The main aim of this paper is to analyse how two types of technical progress affcet the real income growth rate in the countries belonging to three world areas: North America, the Euro zone, and some countries of the Pacific Rim, during the period 1960-2000.

The author examines the impact of the volatility of foreign portfolio investment on the financial constraints of small firms. Using a dataset of over 195,000 firm-year observations across 53 countries, the author examines the impact of foreign portfolio investment instability on capital issuance and firm growth across countries and firm characteristics, in particular size.

The main purpose of this paper is to illustrate some of the challenges that arise in addressing efficiency and equity of a package of instruments with a partial equilibrium model of transport model. The paper provides an overview of some equity measures and their properties. The performances of these equity measures are evaluated in the case of a road-pricing scheme for Oslo.

This paper identifies a strong tendency for Canadian private equity investors to finance entrepreneurs that reside in the same province. The authors provide evidence that certain economic and institutional
factors systematically give rise to differences in the frequency of inter- versus intra-provincial investments.

This paper studies the advising and monitoring activities of 14 European venture capitalists in 74 entrepreneurial firms. The data indicate that the allocation of
greater cash flow and control rights to the VCs gives rise to more intensive VC advice, but not more intensive monitoring.

This paper examines the extent to which investment financing and market-timing explanations motivate public equity offers. The authors consider a sample of 16,958 initial public offerings and 12,373 seasoned equity offerings from 38 countries between 1990 and 2003.

Theories of international specialization point to human capital accumulation as another important determinant of growth in human-capital-intensive industries. Using data for a large sample of countries, the authors find significant positive effects of human capital levels and human capital accumulation on output and employment growth in human-capital-intensive industries.