Recent evidence on functional income distribution suggests that the shares of capital and labour in national income vary considerably both over time and across countries. Specifically, there seems to be a general reduction in the labour share around the world, in particular from the mid-1980s...

While social mobility in advanced economies has received extensive scholarly attention, crucial knowledge gaps remain about the patterns and determinants of income, educational, and occupational mobility in developing countries. Focusing on intergenerational mobility, we find that estimates...

Abstract In spite of rapid economic growth in the past three decades, poverty rates in India remain high, especially in certain regions and among the socially excluded groups. However, what has happened to poverty in India, especially after the onset of economic reforms in 1991, has been...

Financial development enhances domestic resource mobilisation and also allows these resources to the most productive uses. While there is little doubt that financial development leads to higher economic growth which may then lead to poverty reduction, financial development in itself will allow...

Episodes of economic growth that lead to reductions in poverty and inequality are relatively rare in developing countries. In this paper, we examine the institutional foundations of such growth episodes. We argue that the institutional factors that lead to accelerations in economic growth will...

This comprehensive two-volume collection brings together seminal contributions by leading scholars on institutions and governance in developing countries.

Since the 1980s, Kenya has been gradually integrating with the global economy. Using both industry-level and firm-level data, the paper examines the effects of globalization on employment and earnings in the Kenyan manufacturing sector. The industry-level analysis suggests that the overall...

This paper extends the literature on finance and investment by examining the source of finance constraints on the firm's investment decisions. Using a panel of 714 Indian manufacturing firms for the period 1993-98, we find that the degree of 'finance constraint' differs significantly across...