The assumption of perfectly functioning labour markets is ubiquitous in growth theory, yet incompatible with equally ubiquitous poverty in developing countries' informal sectors. We argue that developing countries and high-income countries differ as in the former, induced by informal sector...

This dissertation includes three empirical essays on development economics and one on the economics of education. The first essay (co-authored by Stephan Klasen) is a contribution to the debate surrounding the Millennium Development Goals (MDGs) and the on-going debate about what international...

The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and sub-optimal design. This could lead to undersaving compared to a world without market or behavioral frictions. Undersaving has important welfare consequences: variable consumption, low...

The poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioural frictions. Undersaving can have important welfare consequences: variable consumption,...

"Contains practical guidance for managing sounds savings operations for small and rural depositors. The book addresses two types of institutions: microfinance institutions and mainstream banks"--Provided by publisher