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53 59 Michaelas, N. — Chittenden, F. — Poutziouris, P. (1999): Financial Policy and Capital Structure Choice in UK SMEs: Empirical Evidence from Company Panel Data. Small

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on corporate and personal income affect economic growth in 25 rich OECD countries using panel data for the period 1975–2010, and found that both taxation of corporate and personal income negatively influence economic growth. The empirical analyses of

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, H. L. F. — Nahuis, R. (2003): Fertile Soil for Structural Funds? A Panel Data Analysis of the Conditional Effectiveness of European Cohesion Policy. Utrecht School of Economics, Tjalling C. Koopmans Research Institute, Discussion Paper Series

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, M. — Roper, S. (2008): Openness and Innovation: Home and Export Demand Effects on Manufacturing Innovation: Panel Data Evidence for Ireland and Switzerland. KOF Working Papers , No. 210. Available at (13/01/2013): http

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. Levin , A. – Lin , C. – Chu , C. ( 2002 ): Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties . Journal of Econometrics 108 : 1 – 24 . Mackenbach , J

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): Factors Affecting the Evolution of Renewable Electricity Generating Capacities: A Panel Data Analysis of European Countries . International Journal of Energy Economics and Policy 8 ( 5 ): 161 – 172

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methodologically the most similar to this study as they also use the Heckman sample selection model using panel data. 4 Data 4.1 Sample This study uses data from the Korea Longitude Study of Ageing (KLOSA). The data was collected by the Korea Employment Information

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Evidence from Panel Data in Morocco . World Bank Policy Research Working Paper No. 7031. World Economic Forum ( 2015 ): The Global Gender Gap Report 2015. http://reports.weforum.org/global-gender-gap-report-2015/, accessed: June 17

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, M. (2003): The Role of FDI, R&D Accumulation and Trade in Transferring Technology to Transition Countries: Evidence from Firm Panel Data for Eight Transition Countries. Economic Systems , 27(2): 189

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The soft budget constraint

An introductory study to volume IV of the Life’s Work series

Acta Oeconomica
Author: János Kornai

1165 1182 Lizal, L. - Svejnar, J. (2002): Investment, Credit Rationing, and the Soft Budget Constraint: Evidence from Czech Panel Data. Review of Economics and Statistics , 84

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