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This paper explores the role social network capital might play in facilitating poor agents' escape from poverty traps … poverty. However, the voluntary nature of costly social network formation also creates both involuntary and voluntary … exclusionary mechanisms that impede some poor households' exit from poverty. Through numerical simulation, we show that the …
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This paper presents a simple two-period, dual economy model in which migration options may affect the informal financing of educational investments. When credit contracts are universally available and perfectly enforceable, spatially varied returns to human capital have no effect on educational...
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