Well-functioning financial markets can have a positive effect on economic growth by facilitating savings and more efficient allocation of capital. This paper characterises some of the recent theoretical developments that analyse the relationship between financial intermediation and economic...

Due to its central role in various debates about the determinants of individual earnings, the Mincerian earnings function (MEF) as given in Mincer (1974) has attracted the attention of many economists. The MEF has been estimated virtually for every country except Pakistan, where a necessary...

This paper tests for the sheepskin or diploma effects in the rates of return to education in a developing country, Pakistan; presumably the only study for the country that explicitly investigates this important question. One reason for this paucity of work may have been lack of appropriate data...