We collect information on prenatal testosterone in a large sample of entrepreneurs by measuring the length of their 2th to 4th fingers in face to face interviews. Entrepreneurs with higher exposure to prenatal testosterone (lower second to fourth digit ratio) manage larger firms, are matched...

The ratio of second to fourth digit (2D4D) has been shown to correlate negatively with entrepreneurial skills and financial success. We document that in a sample of entrepreneurs women have a lower 2D4D ratio than men, in sharp contrast with the features of the distribution in random samples....

This paper investigates whether the Pesticides Initiative Program has significantly affected the export performance of Senegal's horticulture industry. We apply two main microeconometric techniques, difference-in-difference and matching difference-in-differences to identify the effect of the...

The focus of trade policy has shifted in recent years from economy-wide reductions in tariffs and trade restrictions towards targeted interventions to facilitate trade and promote exports. Most of these latter interventions are based on the new mantra of "aid-for-trade" rather than on hard...

This paper evaluates the effects of the FAMEX export promotion program in Tunisia on the performance of beneficiary firms. While most studies assess only the short-term impact of such programs, we consider also the longer-term impact. Estimates suggest that beneficiaries initially saw both...

In this paper we use unit roots/cointegration analysis and time-varying parameters procedures to test for a common growth path in the ex-communist block, both pre- and post-reform. We test whether there has been convergence within the block and between the block as a group and the West....

After deregulation in 1980, competitive pressures forced the large U.S. freight railroads to restructure. Much attention has focused on defensive (cost-cutting) restructuring: until 2004 employment was reduced by 60%, and railroads abandoned many of their lines. Less attention has been given to...

Recent estimates of convergence equations using panel data techniques tend to produce theoretically unpalatable results which run counter to the views prevailing in the literature. This paper argues that these results may be partly due to the difficulty of empirically separating short-term...

This Paper studies the interaction between repeated auctions of rail franchises of different lengths, uncertainty, and incentives for investment in rolling stock, following the privatization of British Rail. Theoretical predictions are tested empirically using a unique panel of data. Theory...

This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by the real options literature, which suggests a weaker response of investment to demand shocks at higher levels of uncertainty, as firms place a greater value on the option to wait....