In this paper we present a dynamic model of subsidized credit provision to examine how asymmetric information exacerbates ineciency caused by corruption. Though designed to empower the underprivileged, the fate of such credit programs largely depends on the eciency of the credit delivery system....

This paper shows that, in case of differentiated products mixed duopoly, environmental damage increases (decreases) with the level of privatization, if the level of privatization is less (more) than certain level. It also shows that partial privatization is optimal from the social welfare point...

This essay makes a comparative assessment of labour institutions of China and India. China's drastic labour reforms were to some extent necessary for the creation of a free labour market, which then allowed unfettered industrial growth and rapid employment, although they also led to some adverse...

We show under general demand and cost conditions that in a mixed duopoly with pollution the government will implement the socially optimal outputs and abatements by a tax-subsidy scheme and keeping the public firm fully public. The scheme requires taxing outputs and subsidizing abatements at...

We study school choice and school efficiency in terms of secondary school completion test scores by utilizing a unique database from Nepal. There are two novel features of our analysis: firstly we allow for heterogeneity among private schools, by distinguishing socially motivated trust-run...

We show under general demand and cost conditions that in a mixed duopoly with pollution the government can implement the socially optimal outputs and abatements by a tax-subsidy scheme and keeping the public firm fully public. The scheme requires taxing outputs and subsidizing abatements at...

Considering a differentiated mixed duopoly we show that when privatization and pollution tax are used together environmental damage will be non-monotone in the level of privatization, and optimal privatization is always partial privatization. Whether privatization will improve the environment or...

Although development economics generally confines its attention to the last 60 years, there is a growing body of research that looks back centuries and tries to determine if the events in the long past are responsible for underdevelopment of today’s developing countries. Broadly speaking,...

We develop a model of private tutoring where its demand emerges from poor schooling infrastructure and shirking by teachers. We analyse the government’s policy choice and society’s educational outcome. If the teacher is to be made more dutiful, his salary must be raised...

This paper develops a model where labour supply is constrained because training new workers is costly and redundant workers cannot be fired. An entrant draws labour from an incumbent firm through a wage contest while wages in the latter are bargained with its unionized workers. In a Cournot...