Apart from altruistic reasons, NGOs may engage in developing countries under conditions of conflict and war in order to secure funding and survive in the ‘market’ of humanitarian relief and development assistance. Applying a difference-in-difference-in-differences approach, we analyze...

This paper examines the effect of temporary and permanent migration on household expenditures and on asset/durables ownership. Using household survey data from Moldova, this paper relies on the matching approach for identification. It is shown that temporary migrant households have additional...

In this paper we explore empirically a long-standing question in the literature on finance for growth. namely whether the financial structure -in terms of the size of the banking system relative to the capital markets- matters for economic growth. We build upon the existing literature by...

In order to understand from where the profits or monetary profits of capitalists and firms emerge the author examined the phrase of Marx, 'Die Gesamtklasse der Kapitalisten kann nichts aus der Zirkulation herausziehen, was nicht vorher hineingeworfen war.' (The class of capitalists cannot...

This paper offers a quantitative description of European private equity markets and compares the recent development in these markets with the development of the US venture capital market. Moreover, the paper addresses the differences between private equity investors acting in a single national...

In this paper, a real-financial CGE model is employed for Bolivia to simulate the macroeconomic and distributional effects of exchange rate policy in a highly dollarized economy. Overall, dollarization appears to matter more through real than through financial-sector effects. The main...

The paper is a survey of theoretical and empirical approaches applied to analyze the impact of financial system on economic growth. The key issues of the modern theories of the finance-growth nexus are discussed and the theories are classified on the basis of the methodology they rely on. The...

This paper provides compelling evidence that equity market liberalization, the most efficient way to smooth financial market frictions such as credit constraints, can alleviate persistent cross-dynastic income inequality through increasing the accumulation of human capital. We examine the impact...

This paper studies the remittances' effect on economic growth. Using panel data techniques, the authors estimate several specifications to provide support of such relationship for MENA countries over the period 1980-2009. The findings provide new robust evidence on how remittances are used in...

This paper examines the impact of venture capitalistsÂ’ reputation building and experience accumulation on the genesis of venture capital markets. Venture capitalists must accumulate experience to successfully support high-technology enterprises. They must build reputation, i.e., a track...