This paper presents a 'real options' model of investment under uncertainty, which incorporates the assumption of a financial market characterised by asymmetric information and which can explain the stylised facts of firm growth. The decision-making situation faced by small and medium-sized...

This paper surveys the theoretical and empirical literature on the financing of investment in order to lay the foundation for subsequent analysis of technology investments by Southern European SMEs. By adapting a variety of approaches to suit this purpose, a number of findings for policy are...

While poverty reduction has become the central focus of the multilateral institutions, research into macroeconomic policy has lagged behind and continues to be almost solely growth-focused. This paper aims to contribute to one policy area, that of capital account regulation, and sets out a...

The perspectives of the expert contributors reflect the strong growth of research on the topic, as accounting is increasingly recognised as an important factor in development. The book draws commentary and analyses together to inform future research, practice and policy and raises awareness of...

The long literature on intergenerational transmission of well-being has largerly been driven by concerns for inequality of opportunity and the persistence of low levels of wellbeing among certain social groups.A comparative strand of this literature seeks to compare indicators of these...

Multidimensional measures provide an alternative lens through which poverty may be viewed and understood. In recent work we have attempted to offer a practical approach to identifying the poor and measuring aggregate poverty (Alkire and Foster 2011). As this is quite a departure from traditional...

This paper reexamines key results from the measurement of opportunity freedom, or the extent to which a set of options offers a decision maker real opportunities to achieve. Three cases are investigated: no preferences, a single preference, and plural preferences. The three co the cardinality...

Multidimensional poverty measures give rise to a host of statistical hypotheses which are of interest to applied economists and policy-makers alike. In the specific context of the generalized Alkire-Foster (Alkire and Foster 2008) class of measures, we show that many of these hypotheses can be...

This paper presents a new Multidimensional Poverty Index (MPI) for 104 developing countries. It is the first time multidimensional poverty is estimated using micro datasets (household surveys) for such a large number of countries which cover about 78 percent of the world´s population. The MPI...

A recent literature on inequality of opportunity o¤ers quantitative tools for comparisons and measurement based on stochastic dominance criteria and traditional inequality indices. In this paper I suggest an additional way of assessing inequality of opportunity with two indices of dissimilarity...