This study attempts to understand the growth of services & informal sector’s capital formation, by modelling the formal-informal sector value chain in an economy with goods, asset and labour market segmentation. It considers a developing economy with a large informal sector and splits the...

This study attempts to understand the growth of services & informal sector’s capital formation, by modelling the formal-informal sector value chain in an economy with goods, asset and labour market segmentation. It considers a developing economy with a large informal sector and splits the...

While there is growing evidence of persistent or even permanent output losses from financial crises, the causes remain unclear. One candidate is intangible capital - a rising driver of economic growth that, being non-pledgeable as collateral, is vulnerable to financial frictions. By sheltering...

Violent conflicts are typically associated with a long-lasting drag on economic output, yet establishing causality based on macro-data remains as a challenge. This study attempts to build causality in the conflict-growth nexus by exploiting within-country variation across industries'...

Real effective exchange rate (REER) imbalances may affect economic growth by altering the allocation of labour and capital across sectors. This study assesses whether the component of inter-sectoral production factor misallocation induced by REER misalignments significantly hinders economic...