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The paper analyses the timing of spontaneous environmental innovation when second-mover advantages, arising from the expectation of declining investment costs, increase the option value of waiting created by investment irreversibility and uncertainty about private payoffs. We then focus on the design of public subsidies aimed at bridging the gap between the spontaneous time of technological change and the socially desirable one. Under network externalities and incomplete information about firms' switching costs, auctioning investment grants appears to be a cost-effective way of accelerating pollution abatement, in that it allows targeting grants instead of subsidizing the entire industry indiscriminately.

This study estimates the firm-level employment effects of investment grants in Germany. In addition to the average treatment effect on the treated, we examine discrimination in the funding rules as potential source of effect heterogeneity. We combine a staggered difference-in-differences approach that explicitly models variations in treatment timing with a matching procedure at the cohort level. The findings reveal a positive effect of investment grants on employment development in the full sample. The subsample analysis yields strong evidence for heterogeneous effects based on firm characteristics and the economic environment. This can help to improve the future design of the program.

Die Gemeinschaftsaufgabe 'Verbesserung der regionalen Wirtschaftsstruktur' (GRW) ist das wichtigste regionalpolitische Programm in Deutschland und wurde nach der Wiedervereinigung in großem Umfang zur Unterstützung des wirtschaftlichen Transformationsprozesses in den neuen Bundesländern eingesetzt. Ein Überblick über nationale und internationale kausalanalytische Studien zur Wirkung von Investitionszuschüssen zeigt, dass solche Programme positive Effekte auf die Entwicklung insbesondere von Beschäftigung und Einkommen haben. Nicht nur die geförderten Betriebe profitieren von der Unterstützung, sondern die Regionen insgesamt. Auch wenn die Studien nicht bis in die frühen 1990er Jahre zurückreichen, kann man daraus schließen, dass die GRW zur wirtschaftlichen Entwicklung in Ostdeutschland beigetragen hat - und zum Aufholprozess. ; The joint task force 'Improving Regional Economic Structures' (GRW) is the most important regional policy scheme in Germany and was extensively used to support the economic transformation process in the new states after reunification. The article provides an overview of national and international causal analytical studies on the effects of investment grants. The analysis shows that such programmes have positive effects on development - especially of employment and income. It not only affects the subsidised establishment benefit from this type of support, but the regions as a whole. Even though the studies do not go back to the early 1990s, we can conclude that the GRW contributed to economic development in East Germany - and to the catching-up process.

In the contemporary era, the world has become integrated and multi-polar. In this process, many emerging economies and developing countries have shifted their economic interest from west to east and north to south. It has built the 'rise of the south' and expanding south–south economic collaboration, most importantly in trade and investment. India and Africa had cordial ties throughout the centuries; especially during the period of cold war era and in the fight against the colonialism and imperialism. During this period, both the regions have played an important role to protect and promote their mutual benefits. In this sphere, we can also see that the geographical state of affairs has played an important role to bridge the gap between the two regions. The contemporary period of liberalization, privatization and globalization has eliminated the boundary and space between the regions. In such a situation, it is significant to study the relations between the emerging economies—India as a 'country' and Africa as a 'continent' in terms of trade and investment. This article has tried to examine the nature of economic relations between the two regions and in this process, it has tried to track out the challenges and opportunities which are available in front of these two regions. This article has also evaluated the initiatives taken by both the regions.

This paper investigates whether corporate political connections and corporate donations to national-level political campaigns are associated with the allocation of government resources. Based on a sample of Taiwanese publicly held companies, the findings show that political campaign contributions are associated with successful applications for government innovation subsidies as well as more government innovation subsidies. The findings also show that companies that show their loyalty by only donating to the ruling party's candidates in campaigns receive higher amounts of government innovation subsidies than other companies. Overall, the findings provide evidence that political connections through political campaign contributions may affect government's decision for resource allocation.