Farm-level Census data and county-level income shock data reveal that past unexpected income shocks affect the rate of change in average farm size. Average farm size increases more quickly in counties experiencing negative income shocks as compared to counties experiencing positive income...

En este trabajo se estudia cómo los estimadores que se utilizan para imputar consumo en datos provenientes de encuestas son inconsistentes a causa de error de medida en la variable de consumo. Estudios anteriores sugieren instrumentar consumo para superar este problema. El presente estudio...

The last two decades of the twentieth century witnessed a series of financial reforms in emerging economics of Asia, Africa and Latin America. The seminal works of R.I. McKinnon and E.S. Shaw, which attribute the slow growth of these economies to financial repression, inspired many of these...

Banking industry liberalization in China has gained pace. The theoretical underpinning of this policy approach is the McKinnon-Shaw hypothesis, which contends that a liberalized financial sector will maximize the quantity of deposits mobilized and optimize the efficiency with which these funds...

This dissertation measures the impact of multiple exchange rate systems on economic performance and on net capital flows in developing countries. The literature on the effectiveness of capital controls has some problems. Two of them are that it often ignores the endogeneity of capital controls,...

Tanzania is among the poorest countries in the world, with most of its population living in rural areas. Like most other developing countries, rural households' access to financial services is very limited. The government has adopted series of economic reform measures since mid-1980s that...

A thesis submitted in partial fulfilment of the requirements of the University ofWolverhampton for the degree of Doctor of Philosophy

A thesis submitted in partial fulfilment of the requirements of the University ofWolverhampton for the degree of Doctor of Philosophy

Investor confidence is a necessary condition for the development of emerging markets. Investors recognize that since market-oriented reform policies may be reversed or hindered, they face the risk of ex post policy changes with redistributive impact on investment returns. We argue that a...

Economics