Globalization has many dimensions, mostly familiar to many such as trade, capital, labor, and knowledge. We distinguish between short-term and longterm capital flows, and between foreign direct investment and short-term capital flows. In terms of labor, we are not only interested in the flows of...

This article grapples with the causes of India's microfinance crisis. By contrasting Bangladesh's highly successful Grameen model with the allegedly “universalizable” version of India's SKS Microfinance (which precipitated the crisis), trust or social capital is isolated — not just...

These contributions discuss a number of important developments over the past decade in a newly established and important field of economics that have led to notable changes in views on governmental competition policies. They focus on the nature and role of competition and other determinants of...

This paper considers growth and fluctuations in a standard Overlapping Generations (OLG) model with rational expectations, with land (a non-produced asset), credit frictions, and endogenous growth. Under plausible conditions, there can be multiple momentary equilibria, with the multiplicity...