Topic
Capital deepening
About: Capital deepening is a research topic. Over the lifetime, 5203 publications have been published within this topic receiving 230297 citations.
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Book•
21 Nov 2018
TL;DR: In this paper, the authors argue for an integrated approach to productivity analysis that incorporates both the need to reduce economic distortions and generate the human capital capable of identifying the opportunities offered to follower countries and upgrade firm capabilities.
Abstract: The stagnation of productivity in the developing world, and indeed, across the globe, over the last two decades dictates a rethinking of productivity measurement, analysis, and policy. This volume presents a 'second wave' of thinking in three key areas of productivity analysis and its implications for productivity policies. It calls into question the measurement and relevance of distortions as the primary barrier to productivity growth; urges a broader concept of firm performance that goes beyond efficiency to quality upgrading and demand expansion; and explores what it takes to generate an experimental and innovative society where entrepreneurs have the personal characteristics to identify new technologies and manage risk within an entrepreneurial ecosystem that facilitates them doing so. It also reviews arguments surrounding industrial policies. The authors argue for an integrated approach to productivity analysis that incorporates both the need to reduce economic distortions and generate the human capital capable of identifying the opportunities offered to follower countries and upgrade firm capabilities. Finally, it offers guidance on prioritizing policies when there is uncertainty around diagnostics and limited government capability.
63 citations
TL;DR: In this article, the authors studied the relationship between capital ratio and bank efficiency for Chinese banks over the period 2004−2009, taking advantage of the profound regulatory changes in capital requirements that occurred during this period to measure the exogenous impact of an increase in the capital ratio on banks' cost efficiency.
Abstract: This paper contributes to the debate on the effect of capital requirements on bank efficiency. We study the relation between capital ratio and bank efficiency for Chinese banks over the period 2004−2009, taking advantage of the profound regulatory changes in capital requirements that occurred during this period to measure the exogenous impact of an increase in the capital ratio on banks’ cost efficiency. We find that such an increase has a positive effect on cost efficiency, the size of which depends to an extent on the bank’s ownership type. Our results therefore suggest that capital requirements can improve bank efficiency.
63 citations
TL;DR: In this article, the authors used new international comparable data on intangible capital investment by business within a panel analysis between 1998 and 2005 in an EU country sample, and found a positive and significant relationship between investment in intangible capital and labor productivity growth.
Abstract: Using new international comparable data on intangible capital investment by business within a panel analysis between 1998 and 2005 in an EU country sample, a positive and significant relationship between intangible capital investment and labor productivity growth is detected. This relationship proves to be robust to a range of alterations. The empirical analysis confirms previous findings that the inclusion of business intangible capital investment in the asset boundary of the national accounting framework increases the rate of change of output per hour worked more rapidly. In addition, intangible capital is able to explain a significant portion of the unexplained international variance in labor productivity growth, and becomes a dominant source of growth.
63 citations
Posted Content•
TL;DR: In this paper, the authors evaluate the effect of capital constraints on entrepreneurial performance on a panel of 1,000 Dutch entrepreneurs and find that initial capital constraints hinder entrepreneurs in their performance, even when they control for various human capital and other factors that might affect both performance and credit scoring outcomes.
Abstract: A novel method is applied to evaluate the effect of capital constraints on entrepreneurial performance on a panel of 1,000 Dutch entrepreneurs. We find that initial capital constraints hinder entrepreneurs in their performance, even when we control for various human capital and other factors that might affect both performance and credit scoring outcomes. We use a direct individual indicator variable for initial capital constraints. Previous research with the same objective used indirect indicators of wealth, inheritances or windfall gains, where it remains unknown whether the entrepreneur indeed suffered from capital constraints. This drawback is not attached to our (neither perfect) approach so that policy implications will become more evident.
63 citations
Posted Content•
TL;DR: In this article, the authors survey the empirical literature on human capital and productivity and summarize the results of their own work on the subject, concluding that investment in education has a positive, significant and sizable effect on productivity growth.
Abstract: This paper surveys the empirical literature on human capital and productivity and summarizes the results of my own work on the subject. On balance, the available evidence suggests that investment in education has a positive, significant and sizable effect on productivity growth. According to my estimates, moreover, the social returns to investment in human capital are higher than those on physical capital in most EU countries and in many regions of Spain.
63 citations