This paper examines the intensity of financial crises during the 1990s with a view to informing crisis prevention and mitigation policies. We compare the performance of a full Bayesian and an information-theoretic approach in addressing the econometric problems posed by the lack of a unifying...

It is by now widely appreciated that institution building is at the heart of the transition process. Without functioning institutions markets cannot work effectively and the sustainability of the economic transition process can be undermined. The crisis in Russia provided just one piece of...

This paper examines empirically the impact of reproductive externalities on fertility behaviour in one developing society - Kenya. We examine this issue by quantifying the effects of group membership on the number of children ever born. The focus of this study is the identification of structural...