This article re-examines the selection process in the context of a sample of applicants to read Philosophy, Politics and Economics at Oxford University in 1978. We have observed that a stable equation can be estimated that correctly classifies a high proportion of candidates between accepted and...

The World Bank Development Report (World Bank, 1989) provides an excellent synthesis of current wisdom about the relationship between financial systems and economic development. The purpose of this article is to evaluate the proposals presented in that Report. The Report addresses four sets of...