This paper studies the consequences of certain widespread policies for the quality and sustainability of growth. These policies cause economic inefficiency, environmental destruction and increased poverty. The paper develops a political economy model to show why the existence of such policies is...

This paper explores the link between poverty and resource allocation, including the management of natural resources, by chronically indebted rural smallholders in developing countries. The paper proposes a formal intertemporal model of a credit constrained farm household that can invest in...