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The effect of financial enforcement on entrepreneurship and development in a 'growth miracle'

机译:金融执法对“增长奇迹”中的创业和发展的影响

摘要

This paper uses a GE model of occupational choice with financial frictions to explain development in a 'growth miracle'. We analyze two historical periods that correspond to different steady states, and find that Korea's development was largely due to human and physical capital deepening. Whilst this result is consistent with growth regressions, our alternative method shows how changes in enforcement, ability, bequest preferences and technology drive development. The model also provides quantitative measures of improvements in institutions and changes in the distribution of ability, magnitudes that are not directly observable in data. © 2011 The Authors. The Manchester School © 2011 Blackwell Publishing Ltd and The University of Manchester.
机译:本文使用具有财务摩擦的职业选择的GE模型来解释“增长奇迹”中的发展。我们分析了对应于不同稳态的两个历史时期,发现韩国的发展很大程度上是由于人力和物质资本的加深。尽管该结果与增长回归一致,但我们的替代方法显示了执法,能力,遗产偏好和技术的变化如何驱动发展。该模型还提供了机构改进和能力分布变化的定量度量,这些能力变化的幅度无法在数据中直接观察到。 ©2011作者。曼彻斯特学校©2011 Blackwell Publishing Ltd和曼彻斯特大学。

著录项

  • 作者

    Joo Donghun; Villamil Anne;

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  • 年度 2011
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  • 原文格式 PDF
  • 正文语种 eng
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