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Microfinance contracts have enormous economic and welfare significance. We study, theoretically and empirically, the …
Persistent link: https://www.econbiz.de/10012040097
Flexible repayment schedules allow borrowers to invest in profitable yet risky projects, but practitioners fear they erode repayment morale. We study repayment choices in rigid and flexible loan contracts that allow discretion in repayment timing. To separate strategic repayment choices from...
Persistent link: https://www.econbiz.de/10012219888
, measure integrity and other values of these groups, and use this data and data from Kenya to support one of the model …
Persistent link: https://www.econbiz.de/10003872201
medium enterprises (SMEs) in Kenya. All participants in a business training program are offered training. One-third of …
Persistent link: https://www.econbiz.de/10014332125
This article investigates the patronage phenomenon in the italian, so called, Second Republic. In particular, the …, where the interests of political parties and districts may diverge, the formers would need patronage resource to assure … parliamentarians' loyalty does play a role in patronage appointments as well as the electoral result in the next electoral competition. …
Persistent link: https://www.econbiz.de/10011571525
During the last three decades there has been an almost continuous undermining of the public interest by private interests operating either outside or inside Greek public administration. The result of this infiltration has been a gradual loss of bureaucratic autonomy to pursue the public...
Persistent link: https://www.econbiz.de/10003979327
Persistent link: https://www.econbiz.de/10003498759
We argue that anticorruption laws may provide an efficiency rationale for why political parties should meddle in the distribution of political nominations and government contracts. Anticorruption laws forbid trade in spoils that politicians distribute. However, citizens may pay for gaining...
Persistent link: https://www.econbiz.de/10003301061
We empirically investigate whether the persistence of politicians in political institutions affects the innovation activity of firms. We use 12,000 firm-level observations from three waves of the Italian Observatory over Small and Medium Enterprises, and introduce a measure of political...
Persistent link: https://www.econbiz.de/10009010055
Models of political competition portray political candidates as seeking the support of the median voter to win elections by majority voting. In practice, political candidates seek supermajorities rather than majorities based on support of the median voter. We study the political benefits from...
Persistent link: https://www.econbiz.de/10011342314