IDEAS home Printed from https://ideas.repec.org/a/eee/poleco/v84y2024ics0176268023000666.html
   My bibliography  Save this article

Pandemic panic? Effects of health system capacity on firm confidence during COVID-19

Author

Listed:
  • Gopalakrishnan, Balagopal
  • Lim, Jamus Jerome
  • Mohapatra, Sanket

Abstract

We examine whether firms’ business confidence – defined as their perceptions of risk and sentiment associated with the COVID-19 pandemic – is affected by ex ante health system capacity and ex post government responses. Using firm-level data from 53 countries, we find that ex ante proactive measures, such as healthcare spending and the availability of medical staff, favorably impact firms’ confidence. This effect is, however, moderated by the COVID-19 case load. We also find that the ex post reactive measures, such as health and containment actions and the overall quality of the government response, also bolster business confidence. These effects on confidence vary by firm size and the level of development of the economy, but are largely impervious to prior epidemic experience.

Suggested Citation

  • Gopalakrishnan, Balagopal & Lim, Jamus Jerome & Mohapatra, Sanket, 2024. "Pandemic panic? Effects of health system capacity on firm confidence during COVID-19," European Journal of Political Economy, Elsevier, vol. 84(C).
  • Handle: RePEc:eee:poleco:v:84:y:2024:i:c:s0176268023000666
    DOI: 10.1016/j.ejpoleco.2023.102422
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0176268023000666
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ejpoleco.2023.102422?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Erasmo Giambona & John R Graham & Campbell R Harvey, 2017. "The management of political risk," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(4), pages 523-533, May.
    2. Carola Binder, 2020. "Coronavirus Fears and Macroeconomic Expectations," The Review of Economics and Statistics, MIT Press, vol. 102(4), pages 721-730, October.
    3. Sarah Dryhurst & Claudia R. Schneider & John Kerr & Alexandra L. J. Freeman & Gabriel Recchia & Anne Marthe van der Bles & David Spiegelhalter & Sander van der Linden, 2020. "Risk perceptions of COVID-19 around the world," Journal of Risk Research, Taylor & Francis Journals, vol. 23(7-8), pages 994-1006, August.
    4. Wisniewski, Tomasz P. & Pathan, Saima K., 2014. "Political environment and foreign direct investment: Evidence from OECD countries," European Journal of Political Economy, Elsevier, vol. 36(C), pages 13-23.
    5. Nazmul Chaudhury & Jeffrey Hammer & Michael Kremer & Karthik Muralidharan & F. Halsey Rogers, 2006. "Missing in Action: Teacher and Health Worker Absence in Developing Countries," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 91-116, Winter.
    6. Picchio, Matteo & Santolini, Raffaella, 2022. "The COVID-19 pandemic’s effects on voter turnout," European Journal of Political Economy, Elsevier, vol. 73(C).
    7. Quang Nguyen & Trang Kim & Marina Papanastassiou, 2018. "Correction to: Policy uncertainty, derivatives use, and firm-level FDI," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(2), pages 248-248, February.
    8. Cutler, David M., 2002. "Health care and the public sector," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 4, chapter 31, pages 2143-2243, Elsevier.
    9. Mohammad Hoseini & Abolmohsen Valizadeh, 2021. "The effect of COVID-19 lockdown and the subsequent reopening on consumption in Iran," Review of Economics of the Household, Springer, vol. 19(2), pages 373-397, June.
    10. Eichengreen, Barry & Aksoy, Cevat Giray & Saka, Orkun, 2021. "Revenge of the experts: Will COVID-19 renew or diminish public trust in science?," Journal of Public Economics, Elsevier, vol. 193(C).
    11. Guy L. F. Holburn & Bennet A. Zelner, 2010. "Political capabilities, policy risk, and international investment strategy: evidence from the global electric power generation industry," Strategic Management Journal, Wiley Blackwell, vol. 31(12), pages 1290-1315, December.
    12. Hensvik, Lena & Le Barbanchon, Thomas & Rathelot, Roland, 2021. "Job search during the COVID-19 crisis," Journal of Public Economics, Elsevier, vol. 194(C).
    13. Altig, Dave & Baker, Scott & Barrero, Jose Maria & Bloom, Nicholas & Bunn, Philip & Chen, Scarlet & Davis, Steven J. & Leather, Julia & Meyer, Brent & Mihaylov, Emil & Mizen, Paul & Parker, Nicholas &, 2020. "Economic uncertainty before and during the COVID-19 pandemic," Journal of Public Economics, Elsevier, vol. 191(C).
    14. Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2002. "The Regulation of Entry," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(1), pages 1-37.
    15. Bruce Kogut & Udo Zander, 1993. "Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 24(4), pages 625-645, December.
    16. Busse, Matthias & Hefeker, Carsten, 2007. "Political risk, institutions and foreign direct investment," European Journal of Political Economy, Elsevier, vol. 23(2), pages 397-415, June.
    17. Elizabeth N. K. Lim & Brian T. McCann, 2014. "Performance Feedback and Firm Risk Taking: The Moderating Effects of CEO and Outside Director Stock Options," Organization Science, INFORMS, vol. 25(1), pages 262-282, February.
    18. Gahvari, Firouz, 2006. "On the marginal cost of public funds and the optimal provision of public goods," Journal of Public Economics, Elsevier, vol. 90(6-7), pages 1251-1262, August.
    19. Winter, Sidney G, 1988. "On Coase, Competence, and the Corporation," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 4(1), pages 163-180, Spring.
    20. Serhan Cevik & Fedor Miryugin, 2022. "Death and taxes: Does taxation matter for firm survival?," Economics and Politics, Wiley Blackwell, vol. 34(1), pages 92-112, March.
    21. Quang Nguyen & Trang Kim & Marina Papanastassiou, 2018. "Policy uncertainty, derivatives use, and firm-level FDI," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(1), pages 96-126, January.
    22. Nicholas Bloom & Robert S. Fletcher & Ethan Yeh, 2021. "The Impact of COVID-19 on US Firms," NBER Working Papers 28314, National Bureau of Economic Research, Inc.
    23. Hassan, Tarek & Hollander, Stephan & van Lent, Laurence & Schwedeler, Markus & Tahoun, Ahmed, 2020. "Firm-Level Exposure to Epidemic Diseases: Covid-19, SARS, and H1N1," CEPR Discussion Papers 14573, C.E.P.R. Discussion Papers.
    24. Aguilar, Pablo & Ghirelli, Corinna & Pacce, Matías & Urtasun, Alberto, 2021. "Can news help measure economic sentiment? An application in COVID-19 times," Economics Letters, Elsevier, vol. 199(C).
    25. Daniel J. Blake & Caterina Moschieri, 2017. "Policy risk, strategic decisions and contagion effects: Firm‐specific considerations," Strategic Management Journal, Wiley Blackwell, vol. 38(3), pages 732-750, March.
    26. repec:hal:spmain:info:hdl:2441/32r3ebde539odb82dkmep529vf is not listed on IDEAS
    27. Jiangyong Lu & Xiaohui Liu & Mike Wright & Igor Filatotchev, 2014. "International experience and FDI location choices of Chinese firms: The moderating effects of home country government support and host country institutions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 45(4), pages 428-449, May.
    28. Steven J. Davis & Dingqian Liu & Xuguang Simon Sheng, 2022. "Stock Prices and Economic Activity in the Time of Coronavirus," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(1), pages 32-67, March.
    29. Amar Gande & Kose John & Vinay B. Nair & Lemma W. Senbet, 2020. "Taxes, institutions, and innovation: Theory and international evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(9), pages 1413-1442, December.
    30. Sanjay Basu & Jason Andrews & Sandeep Kishore & Rajesh Panjabi & David Stuckler, 2012. "Comparative Performance of Private and Public Healthcare Systems in Low- and Middle-Income Countries: A Systematic Review," PLOS Medicine, Public Library of Science, vol. 9(6), pages 1-14, June.
    31. Robert Fairlie, 2020. "The impact of COVID‐19 on small business owners: Evidence from the first three months after widespread social‐distancing restrictions," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 29(4), pages 727-740, October.
    32. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June.
    33. repec:spo:wpmain:info:hdl:2441/5e33qpbdeh9pgbbfkkp2ddbtam is not listed on IDEAS
    34. repec:spo:wpmain:info:hdl:2441/32r3ebde539odb82dkmep529vf is not listed on IDEAS
    35. Daehler, Timo B. & Aizenman, Joshua & Jinjarak, Yothin, 2021. "Emerging markets sovereign CDS spreads during COVID-19: Economics versus epidemiology news," Economic Modelling, Elsevier, vol. 100(C).
    36. repec:hal:spmain:info:hdl:2441/5e33qpbdeh9pgbbfkkp2ddbtam is not listed on IDEAS
    37. Brodeur, Abel & Cook, Nikolai & Wright, Taylor, 2021. "On the effects of COVID-19 safer-at-home policies on social distancing, car crashes and pollution," Journal of Environmental Economics and Management, Elsevier, vol. 106(C).
    38. Alexander W. Bartik & Marianne Bertrand & Zoe Cullen & Edward L. Glaeser & Michael Luca & Christopher Stanton, 2020. "The impact of COVID-19 on small business outcomes and expectations," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 117(30), pages 17656-17666, July.
    39. James M. Poterba, 1996. "Government Intervention in the Markets for Education and Health Care: How and Why?," NBER Chapters, in: Individual and Social Responsibility: Child Care, Education, Medical Care, and Long-Term Care in America, pages 277-308, National Bureau of Economic Research, Inc.
    40. Scott R Baker & Robert A Farrokhnia & Steffen Meyer & Michaela Pagel & Constantine Yannelis & Jeffrey Pontiff, 0. "How Does Household Spending Respond to an Epidemic? Consumption during the 2020 COVID-19 Pandemic," The Review of Asset Pricing Studies, Society for Financial Studies, vol. 10(4), pages 834-862.
    41. Suresh De Mel & David McKenzie & Christopher Woodruff, 2012. "Enterprise Recovery Following Natural Disasters," Economic Journal, Royal Economic Society, vol. 122(559), pages 64-91, March.
    42. Jaravel, Xavier & O'Connell, Martin, 2020. "Real-time price indices: Inflation spike and falling product variety during the Great Lockdown," Journal of Public Economics, Elsevier, vol. 191(C).
    43. Forsythe, Eliza & Kahn, Lisa B. & Lange, Fabian & Wiczer, David, 2020. "Labor demand in the time of COVID-19: Evidence from vacancy postings and UI claims," Journal of Public Economics, Elsevier, vol. 189(C).
    44. Caroline Flammer & Ioannis Ioannou, 2021. "Strategic management during the financial crisis: How firms adjust their strategic investments in response to credit market disruptions," Strategic Management Journal, Wiley Blackwell, vol. 42(7), pages 1275-1298, July.
    45. J. E. Stiglitz & P. Dasgupta, 1971. "Differential Taxation, Public Goods, and Economic Efficiency," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(2), pages 151-174.
    46. Lynnette D Purda, 2008. "Risk perception and the financial system," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(7), pages 1178-1196, October.
    47. Abel, Martin & Byker, Tanya & Carpenter, Jeffrey, 2021. "Socially optimal mistakes? debiasing COVID-19 mortality risk perceptions and prosocial behavior," Journal of Economic Behavior & Organization, Elsevier, vol. 183(C), pages 456-480.
    48. Lilas Demmou & Sara Calligaris & Guido Franco & Dennis Dlugosch & Müge Adalet McGowan & Sahra Sakha, 2021. "Insolvency and debt overhang following the COVID-19 outbreak: Assessment of risks and policy responses," OECD Economics Department Working Papers 1651, OECD Publishing.
    49. Todd A. Gormley & David A. Matsa, 2014. "Common Errors: How to (and Not to) Control for Unobserved Heterogeneity," The Review of Financial Studies, Society for Financial Studies, vol. 27(2), pages 617-661.
    50. Paula Caligiuri & Helen De Cieri & Dana Minbaeva & Alain Verbeke & Angelika Zimmermann, 2020. "International HRM insights for navigating the COVID-19 pandemic: Implications for future research and practice," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(5), pages 697-713, July.
    51. Mitchell A. Petersen, 2009. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 435-480, January.
    52. Bergstrom, Theodore & Blume, Lawrence & Varian, Hal, 1986. "On the private provision of public goods," Journal of Public Economics, Elsevier, vol. 29(1), pages 25-49, February.
    53. Argote, Linda & Ingram, Paul, 2000. "Knowledge Transfer: A Basis for Competitive Advantage in Firms," Organizational Behavior and Human Decision Processes, Elsevier, vol. 82(1), pages 150-169, May.
    54. Coutiño, Alfredo & Zandi, Mark, 2021. "Global loss of production capacity caused by the COVID-19 pandemic," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 493-502.
    55. Lukas Buchheim & Jonas Dovern & Carla Krolage & Sebastian Link, 2020. "Firm-Level Expectations and Behavior in Response to the Covid-19 Crisis," CESifo Working Paper Series 8304, CESifo.
    56. Richard A. Benton & J. Adam Cobb & Timothy Werner, 2022. "Firm partisan positioning, polarization, and risk communication: Examining voluntary disclosures on COVID‐19," Strategic Management Journal, Wiley Blackwell, vol. 43(4), pages 697-723, April.
    57. Kent D Miller, 1993. "Industry and Country Effects on Managers′ Perceptions of Environmental Uncertainties," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 24(4), pages 693-714, December.
    58. A. B. Atkinson & N. H. Stern, 1974. "Pigou, Taxation and Public Goods," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(1), pages 119-128.
    59. Graeme Guthrie, 2006. "Regulating Infrastructure: The Impact on Risk and Investment," Journal of Economic Literature, American Economic Association, vol. 44(4), pages 925-972, December.
    60. George P. Huber, 1991. "Organizational Learning: The Contributing Processes and the Literatures," Organization Science, INFORMS, vol. 2(1), pages 88-115, February.
    61. Guthrie, Graeme, 2006. "Regulating Infrastructure: The Impact on Risk and Investment," Working Paper Series 18946, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    62. Brück, Tilman & Llussá, Fernanda & Tavares, José A., 2011. "Entrepreneurship: The role of extreme events," European Journal of Political Economy, Elsevier, vol. 27(S1), pages 78-88.
    63. Ruchir Agarwal & Ms. Gita Gopinath, 2021. "A Proposal to End the COVID-19 Pandemic," IMF Staff Discussion Notes 2021/004, International Monetary Fund.
    64. Chang Hoon Oh & Daniel Shapiro & Shuna Shu Ham Ho & Jiyoung Shin, 2020. "Location matters: Valuing firm‐specific nonmarket risk in the global mining industry," Strategic Management Journal, Wiley Blackwell, vol. 41(7), pages 1210-1244, July.
    65. James E. Neumann & Jacqueline Willwerth & Jeremy Martinich & James McFarland & Marcus C. Sarofim & Gary Yohe, 2020. "Climate Damage Functions for Estimating the Economic Impacts of Climate Change in the United States," Review of Environmental Economics and Policy, University of Chicago Press, vol. 14(1), pages 25-43.
    66. Andrea Bonaccorsi, 1992. "On the Relationship Between Firm Size and Export Intensity," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 23(4), pages 605-635, December.
    67. Pino G. Audia & Henrich R. Greve, 2006. "Less Likely to Fail: Low Performance, Firm Size, and Factory Expansion in the Shipbuilding Industry," Management Science, INFORMS, vol. 52(1), pages 83-94, January.
    68. Crossley, Thomas F. & Fisher, Paul & Low, Hamish, 2021. "The heterogeneous and regressive consequences of COVID-19: Evidence from high quality panel data," Journal of Public Economics, Elsevier, vol. 193(C).
    69. repec:vuw:vuwscr:18946 is not listed on IDEAS
    70. Dahlby, Bev, 1998. "Progressive taxation and the social marginal cost of public funds," Journal of Public Economics, Elsevier, vol. 67(1), pages 105-122, January.
    71. Ferraresi, Massimiliano & Gucciardi, Gianluca, 2022. "Political alignment, centralisation, and the sense of government unpreparedness during the COVID-19 pandemic," European Journal of Political Economy, Elsevier, vol. 73(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abel Brodeur & David Gray & Anik Islam & Suraiya Bhuiyan, 2021. "A literature review of the economics of COVID‐19," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1007-1044, September.
    2. Wu, Jianxin & Zhan, Xiaoling & Xu, Hui & Ma, Chunbo, 2023. "The economic impacts of COVID-19 and city lockdown: Early evidence from China," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 151-165.
    3. Chen, Zhuo & Li, Pengfei & Liao, Li & Liu, Lu & Wang, Zhengwei, 2024. "Assessing and addressing the coronavirus-induced economic crisis: Evidence from 1.5 billion sales invoices," China Economic Review, Elsevier, vol. 85(C).
    4. Barrot, Jean-Noël & Bonelli, Maxime & Grassi, Basile & Sauvagnat, Julien, 2024. "Causal effects of closing businesses in a pandemic," Journal of Financial Economics, Elsevier, vol. 154(C).
    5. Oh, Chang Hoon & Shin, Jiyoung & Oetzel, Jennifer, 2021. "How does experience change firms' foreign investment decisions to non-market events?," Journal of International Management, Elsevier, vol. 27(1).
    6. Murod Aliyev & Timothy Devinney & Andrew Ferguson & Peter Lam, 2024. "Political discretion and risk: the Fukushima nuclear disaster, the distribution of global operations, and uranium company valuation," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 33(3), pages 738-761.
    7. Zhiyong An, 2023. "On the marginal cost of public funds: the implications of charitable giving and warm glow," Fiscal Studies, John Wiley & Sons, vol. 44(3), pages 299-307, September.
    8. Simionescu, Mihaela & Raišienė, Agota Giedrė, 2021. "A bridge between sentiment indicators: What does Google Trends tell us about COVID-19 pandemic and employment expectations in the EU new member states?," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    9. Di Bartolomeo, Giovanni & D'Imperio, Paolo & Felici, Francesco, 2022. "The fiscal response to the Italian COVID-19 crisis: A counterfactual analysis," Journal of Macroeconomics, Elsevier, vol. 73(C).
    10. Nicholas Bloom & Philip Bunn & Paul Mizen & Pawel Smietanka & Gregory Thwaites, 2025. "The Impact of Covid-19 on Productivity," The Review of Economics and Statistics, MIT Press, vol. 107(1), pages 28-41, January.
    11. Carney, Richard W. & El Ghoul, Sadok & Guedhami, Omrane & Wang, He (Helen), 2024. "Geopolitical risk and the cost of capital in emerging economies," Emerging Markets Review, Elsevier, vol. 61(C).
    12. Claus Thustrup Kreiner & Nicolaj Verdelin, 2008. "Optimal Provision of Public Goods: A Synthesis," EPRU Working Paper Series 08-05, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    13. Chris Jones, 2005. "Why the Marginal Social Cost of Funds is not the Shadow Value of Government Revenue," ANU Working Papers in Economics and Econometrics 2005-449, Australian National University, College of Business and Economics, School of Economics.
    14. Mario Daniele Amore & Margherita Corina, 2021. "Political elections and corporate investment: International evidence," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(9), pages 1775-1796, December.
    15. Bas Jacobs, 2018. "The marginal cost of public funds is one at the optimal tax system," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(4), pages 883-912, August.
    16. Balleer, Almut & Link, Sebastian & Menkhoff, Manuel & Zorn, Peter, 2020. "Demand or Supply? Price Adjustment during the COVID-19 Pandemic," IZA Discussion Papers 13568, Institute of Labor Economics (IZA).
    17. Bjart J. Holtsmark & Katinka Kristine Holtsmark, 2021. "The Cost of Public Funding with Direct and Indirect Taxation - a Revisit," CESifo Working Paper Series 8907, CESifo.
    18. Gamso, Jonas & Nelson, Roy C., 2019. "Does partnering with the World Bank shield investors from political risks in less developed countries?," Journal of World Business, Elsevier, vol. 54(5), pages 1-1.
    19. Gao, Jingyi, 2022. "Has COVID-19 hindered small business activities? The role of Fintech," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 297-308.
    20. Jiang, Guoliang F. & Holburn, Guy L.F. & Beamish, Paul W., 2014. "The Impact of Vicarious Experience on Foreign Location Strategy," Journal of International Management, Elsevier, vol. 20(3), pages 345-358.

    More about this item

    Keywords

    Health system capacity; COVID-19; Private and public healthcare; Firm sentiment and risk; Textual analysis;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H51 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Health
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:poleco:v:84:y:2024:i:c:s0176268023000666. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505544 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.