This paper analyzes how agency problems in nancial contracting determine risk-taking andinvestment. In perfect capital markets a risk-neutral rm would invest until the expectedmarginal return equals the interest rate. However, as rms with little net-worth face agencycost in nancial contracting...

Showcasing data from all areas of the ILC program and other sources, Charting International Labor Comparisons is a gateway to explore how key labor market and other national economic measurements compare across countries. There are links to previous editions of the Chartbook of International...

Die Region südlich der Sahara steht wie keine andere im Zentrum der internationalenentwicklungspolitischen Aufmerksamkeit, so dass Afrika in jüngerer Zeit garals ‚hopeless continent’ bezeichnet wird (ECONOMIST, MAI 2000). Dies ist Ausdruckeines wachsenden Entwicklungspessimismus, der sich...