What is the relationship between entrepreneurial saving practices and reinvestment?  We develop a model of entrepreneurial finance and show that entrepreneurial reinvestment decisions depend on the efficiency of saving practices.  Utilizing a novel micro & small enterprise survey from Tanzania...

Using a unique bank-level dataset on the Ugandan banking system over the period 1999 to 2005, we explore the factors behind consistently high interest rate spreads and margins. While foreign banks charge lower interest rate spreads, we do not find a robust and economically significant...

This paper explores whether the patent law and intellectual property rights (IPR) system have resulted in innovation in China during the reform period. It appears that the patent laws have produced a stock of patents, where the success rates of patent applications are fairly uniform across the...

This paper analyzes regime shifts in the stochastic process of economic growth of six major OECD countries over three decades. For the statistical measurement of the underlying global business cycle, we generalize Hamilton's model of the US business cycle to a Markov-switching vector...

This paper is concerned with the nature of economic growth in 19 manufacturing industries between 1970-92. There is substantial heterogeneity (both across sectors and time) in rates of growth of value-added, hours worked, labour productivity and Total Factor Productivity during the sample...

This paper is a preliminary draft of a chapter for the new Handbook of Labour Economics edited by Orley Ashenfelter and David Card and Published by North Holland.

This paper evaluates relations between industrial activity and the structure of countries’ financial, ownership and legal systems. Using data on 27 industries in 14 OECD countries over the period 1970 to 1995, we evaluate whether the structure of countries` systems is associated with...

The paper extends existing work on inequality and economic development by estimating a cross-country structural model that identifies bi-directional relationships between income inequality and other indicators of social and economic development. Overall, lower inequality is associated with...

Analysis of new comparable series on output and employment between 1900 and 2000 for Argentina, Brazil, Chile, Colombia, Mexico, and Venezuela indicates that productivity growth was significantly higher and less volatile during the middle decades of the century than in the opening and closing...