Financial markets in less developed countries suffer from financial dualism, a situation in which a large informal sector coexists alongside a formal one. Contemporary financial market theories are not able to incorporate an understanding of the informal sector and are, therefore, only...

In the first chapter of this dissertation, I estimate the wage elasticity of working in the day labor market in rural Malawi using panel data from a unique field experiment. Though employment in daily wage markets is important to individuals and governments in developing countries, there is...