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Global private capital flows have barely touched the poorest nations; the rich invest mostly with the rich. Confronted with this wealth bias in cross-border investment flows, one of the starkest facts of the global economy, theorists and empiricists have spent roughly the last decade looking for...
Persistent link: https://www.econbiz.de/10005811476
In this paper, I document the existence of unconditional convergence in labor productivity across Mexican states in three-digit manufacturing industries. The rate of convergence for the period 1988-2018 is 1.18% per year. However, this result does not hold at the aggregate level: I find no...
Persistent link: https://www.econbiz.de/10014540976
the PWT to estimate growth rates. Moreover, this variability matters for the cross-country growth literature. While growth …
Persistent link: https://www.econbiz.de/10008514829
Whether government spending can boost the pace of economic growth is widely debated. In the neoclassical growth model …, it is supplies of productive resources and productivity that determine growth in the long-run. In endogenous growth … models, an increase in government spending may raise the steady-state rate of growth due to positive spillover effects on …
Persistent link: https://www.econbiz.de/10008550402
per capita incomes, slow economic growth and geographic conditions favoring insurgency are the factors most robustly … to the economic legacies of war, we frame the literature in terms of neoclassical economic growth theory. Emerging …
Persistent link: https://www.econbiz.de/10004992768
This paper investigates how gender disparities affect the time to repay group micro-finance loans using survival analysis and hazard decomposition techniques. We also control for the effect of the COVID-19 pandemic on the time needed by micro-finance loan borrowers to repay. We use a large...
Persistent link: https://www.econbiz.de/10014540993
This paper documents a positive relation between bank competition and the penetration of bank accounts at the municipal level in Mexico. To account for potential biases in our regressions due to the endogeneity of market structure, we employ a two-stage estimation approach based on an...
Persistent link: https://www.econbiz.de/10010392376
Given the substantial amount of resources currently invested in microcredit programs, it is more important than ever to accurately assess the extent to which peer monitoring by borrowers faced with group liability contracts actually reduces moral hazard. We conduct a field experiment with women...
Persistent link: https://www.econbiz.de/10010280892
The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioral frictions. Undersaving can have important welfare consequences: variable consumption,...
Persistent link: https://www.econbiz.de/10010729174
The depth of and access to financial services provided by banks throughout Latin America are extremely low in spite of its recognized importance for economic activity, employment and poverty alleviation. Low financial depth and access hurts the poor the most and is due to a variety of obstacles...
Persistent link: https://www.econbiz.de/10005012837