This paper presents a simple model with financial frictions where inflation increases the cost faced by firms holding liquid assets to hedge risky production against expenditure shocks. Inflation tilts firms' technology choice away from innovative activities and toward safer but return-dominated...

Using the universe of all externally issued bonds by corporates and sovereigns in emerging and developing economies during 2000-14, this paper analyzes various issuance trends, including the unprecedented post-crisis surge. The paper focuses on external issuance at the country-industry and...

Internal labor migration rates in India have been largely static and low in recent times compared with those in other countries. This is a cause for concern because internal migration for economic reasons can promote the agglomeration of economic activity in more productive locations and...

This paper investigates whether social structure helps or hinders factor allocation using unusually rich data from The Gambia. Evidence indicates that land available for cultivation is allocated unequally across households; and that factor transfers are more common between neighbors, co-ethnics,...

In many regions of the world, the persistent, and growing, proportion of young people who are currently not in employment, education, or training is of global concern. This is no less true of Morocco: about 30 percent of the Moroccan population between ages 15 and 24 are currently not in...

This article investigates the causal relationship between women's schooling and fertility by exploiting variation generated by the removal of school fees in Ethiopia. The increase in schooling caused by the reform is identified using both geographic variation in the intensity of its impact and...

The author analyzes regional labor market disparities in transition by presenting some data and summarizing existing literature. He finds that large and persistent regional labor market disparities developed in virtually all transition countries and that there is some evidence of polarization....

Do matching frictions affect youth employment in developing countries? This paper studies a randomized controlled trial of job fairs in Addis Ababa, Ethiopia. The job fairs match firms with a representative sample of young, educated job-seekers. The meetings at the fairs create very few jobs:...

This paper uses a unique dataset of both public and private sector primary school teachers and their students to present among the first estimates in a low-income country of (a) teacher effectiveness; (b) teacher value added (TVA) and its correlates; and (c) the link between TVA and teacher...