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The purpose of this paper is to test the main hypotheses of the recent theoretical literature on the political economy of reform for the case of the Latin American countries between 1985 and 1995. The paper first reviews the literature and extracts the main testable hypotheses. Then, a system of...
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mothers and fathers make investments in their children. We find that time investments, educational investments, and … education subsidies can reduce inequality, due to an estimated dynamic complementarity between time investments and education …
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