作者：ATHEY, MJ; LAUMAS, PS
摘要：Several economists have argued that capital markets in less-developed countries are fragmented. Fragmented capital markets retard the efficient allocation of resources and force business firms to rely on internal sources of funds. Using firm-level data, the authors examine the importance of the accelerator, internal funds, and depreciation for investment by manufacturing firms in India. The results indicate that internal funds and depreciation have significant explanatory power in a sales acce...
作者：MUNSHI, KD; PARIKH, KS
摘要：We develop and estimate a model to derive the sources of growth in Indian milk production. A substantial share of this growth is attributed to technological progress associated with the cooperative system. Directed interventions in the dairy sector can account for only a fraction of this technological progress. For instance, cross-breeding only partially explains the growth in cow milk production, suggesting improvement in the quality of indigenous cows. Diffuse determinants may thus play an i...
