Economic development implies that the efficiency of firms in developing countries is approaching that of firms in … privatization, competition and foreign investment. We also test hypotheses positing that only firms near the efficiency frontier … find that privatization to domestic owners did not markedly improve the efficiency of firms; domestic firms are not …

-post bargaining. Optimal ownership structures are characterized and a new role for option contracts is identified. …

describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … significant effect of private ownership share on the level and growth of labor productivity, the estimates ranging from 13 to 32 …

In this paper we compare two flexible estimators of technical efficiency in a cross-sectional setting: the … examples. We find that the reliability of efficiency scores critically hinges upon the ratio of the variation in efficiency to …

as pivotal input in order to control for their particular contribution to firm-level efficiency. Conceptually, the study … of low-tech industries. However, with regard to firms' technical efficiency, R&D matters for all industries (unlike …

aspect of the EITC that has received little attention thus far is its role as a public insurance program. Yet, the structure … to both wages and changes in family structure. Our study provides the first quantitative statement about the insurance … demographic risk, but have only limited self-insurance capacity. We use the model to compare outcomes under the EITC to the …

Do migrants send remittances as a way of obtaining insurance? While this motive is theoretically suggested in the … a "purchase of self-insurance" motive to remit, we also provide evidence of more remittances sent by risk averse …

drive the demand for risk reduction, and some to alter both. Our findings suggest that 30 percent of all insurance payments …

partial insurance of parental investments against permanent income shocks, but the magnitude of the estimated responses is … small. We cannot reject the hypothesis full insurance against temporary shocks. Another interpretation of our findings is … that there is very little insurance available, but the fact that skill is a non-separable function of parental investments …