Traditionally, firms in India have shown a low preference towards debt financing, despite its advantages. Using panel data from 450 firms during 1992-93 and 2003-04, we attempt to identify factors which could explain the pattern of financing of manufacturing firms in India and the key...

Use of migration tax as an instrument for financing development expenditure in poorer countries has received renewed attention recently and is evolving as an important subject of research in development economics. This paper discusses a related issue where the revenue collected by taxing skilled...