In the absence of developed financial markets, households appear to resort to child labor to cope with income variability. This evidence suggest that policies aimed at increasing households' access to credit could be effective in reducing child labor

Global capitalism, vintage 21st century, is less friendly to the international migration of unskilled people than were previous waves of globalization (such as that of the late 19th century). A freer regime for international migration could help to reduce global economic inequality, improve the...

One of the primary reasons that otherwise good politicians enact bad policies in countries all over the world, but especially in low-income countries, is that they face significant constraints in their efforts to bring about reform. These constraints, the "room for maneuver", are shaped by the...

Small states, no different from large states in income and growth, should receive the same policy advice large states do. Because of their greater openness, they may be more vulnerable to volatility in terms-of-trade shocks--but their openness pays off in growth