[...]In this article, we explore the DPCs’ approachesto risk management and the extent to which theseapproaches provide competitive advantage. We begin bycharacterizing the major intermediaries in the derivativesmarkets and describing how they manage risk. We thendiscuss the emergence of...

Whether or not the marginal product of capital (MPK) differs across countriesis a question that keeps coming up in discussions of comparative economic developmentand patterns of capital flows. Using easily accessible macroeconomic datawe find that MPKs are remarkably similar across countries....