This paper examines how domestic, foreign, private and public investments affect income-inequality through financial intermediary dynamics. With the exception of financial allocation efficiency, financial channels of depth and activity are good for the poor as they diminish estimated household...

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...

Place-based policies aim to stimulate economic development in disadvantaged areas with the goal of improving the well-being of residents. A provision of the Tax Cuts and Jobs Act aimed to spur private investment in low-income areas called Opportunity Zones (OZs). We evaluate the impact of OZs on...