The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development...

The knowledge of social stratification within the peasantry is a decisive precondition of sustainable economic and political measures for an effective support of agricultural production in least developed countries. This is one of the reasons why also in Nigeria social scientist focus on the...

Economic development is associated with the shift of production from the traditional sector (e.g. traditional agriculture and the urban informal sector) to the modern sector (e.g. modern manufacturing and commercial agriculture). Human capital accumulation, particularly, education and job...

Using a new set of indicators that measure the Property Insecurity of ethnopolitical minority groups, I find that Property Insecurity is not correlated with the Risk of Expropriation facing foreign investors and domestic elites – revealing that the aggregate measures of 'institutional quality'...

A large body of research has found that there is a statistically significant, positive link between country-level IQ and various measures of economic activity, such as GDP growth. This study extends that analysis by estimating the relationship between IQ and welfare growth. Using Jones and...

It is widely believed that land markets, including both land sales and tenancy markets, are neither efficient nor conducive to social equity. It is often argued that tenants, particularly share tenants, do not have proper incentives to work and invest, partly because of the disincentive effects...

Many empirical works suggest that education has a positive effect on earnings not only because it raises human capital but also because it functions as a signal when employers have incomplete information on employees' skills.The signaling role could have important consequences on the dynamics of...

One of the most salient features of developing economies is the existence of a large informal sector. This paper uses quantitative theory to study the dynamic implications of informality on wage inequality, human capital accumulation, child labor and long-run growth. Our model can generate...

One of the most salient features of developing economies is the existence of a large informal sector. This paper uses quantitative theory to study the dynamic implications of informality on wage inequality, human capital accumulation, child labor and long-run growth. Our model can generate...

This research extends simple two-sector models in order to inquire the impact of the extent of coverage or enforcement of minimum wage legislation in one of the sectors on the equilibrium outcome. Two versions of institutional wage avoidance are presented. They may be seen as representing...