Investing Today for the World of Tomorrow

1. Front Matter

   Pages I-VI

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2. Investing Today for the World of Tomorrow — a Summary

   • Heinz Herrmann

   Pages 1-8

3. Tax Policy and Capital Formation under the EMU: Perspectives on German Economic Policy

   • Robert S. Chirinko

   Pages 9-37

4. Discussion

   • Alan J. Auerbach

   Pages 38-42

5. Discussion

   • Pierluigi Ciocca

   Pages 43-46

6. Investment and Taxation in Germany — Evidence from Firm Level Panel Data

   • Dietmar Harhoff, Fred Ramb

   Pages 47-73

7. Discussion

   • Bronwyn H. Hall

   Pages 74-78

8. Discussion

   • Elmar Stöss

   Pages 79-83

9. Infrastructure Investment and Economic Activity: Theoretical Issues and International Evidence

   • Helmut Seitz

   Pages 85-124

10. Discussion

    • Juha Tarkka

    Pages 125-130

11. Uncertainty and Firm Level Investment in West Germany

    • Hjalmar Böhm, Michael Funke, Nikolaus A. Siegfried

    Pages 131-151

12. Discussion

    • Andrew J. Hughes Hallett

    Pages 152-161

13. Discussion

    • Werner Roeger

    Pages 162-164

14. Capital-Market Imperfections, Investment, and the Monetary Transmission Mechanism

    • R. Glenn Hubbard

    Pages 165-194

15. Discussion

    • Vítor Gaspar

    Pages 195-196

16. Discussion

    • Jürgen von Hagen

    Pages 197-200

17. Corporate Governance and the Financing of Investment for Structural Change

    • Martin Hellwig

    Pages 201-220

18. Discussion

    • Colin Mayer

    Pages 221-224

19. Discussion

    • Georg Rich

    Pages 225-228

20. Firm Level Investment and R&D in France and the United States: A Comparison

    • Benoît Mulkay, Bronwyn H. Hall, Jacques Mairesse

    Pages 229-273

Investment is crucial to the development of a nation`s economy and welfare. In contrast to the situation in the United States, investment activity in Europe has been quite modest over the past few years. This volume gathers together a number of papers by prominent researchers in the field of investment. It provides an overview of recent developments in this area and presents new empirical findings on the determinants and implications of the investment process in European countries. Among the topics examined are the role played by taxation, uncertainty and the financial systems, as well as the relevance of corporate governance to the investment process. Two chapters are dedicated to infrastructure investment and foreign direct investment.

• Besteuerung
• Corporate Governance
• Financial Systems
• Financing
• Finanzsysteme
• Foreign Direct Investment
• Investement
• Investionen
• Investment
• Taxation
• ausländische Direktinvestititonen

• Frankfurt, Germany

  Deutsche Bundesbank

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