This paper investigates the repayment behavior of microfinance borrowers in Pakistan using a unique dataset of about 45,000 installments/repayments covering 2,945 microfinance borrower households over the period 1998-2007. In early 2005, the microfinance institution for these borrowers adopted a...

This paper examines determinants of corruption across Russian regions. Key contributions include: (i) a formal study of economic corruption determinants across Russian regions; (ii) comparisons of determinants of perceived corruption versus those of actual corruption; and (iii) studying the...

China's long-term economic dynamics pose a formidable challenge to economic historians. The Qing Empire (1644-1911), the world's largest national economy prior to the 19th century, experienced a tripling of population during the 17th and 18th centuries with no signs of diminishing per capita...

We deal with nonparametric estimation in a nonlinear cointegration model whose regressor and dependent variable can be contemporaneously correlated. The asymptotic properties of the Nadaraya-Watson estimator are already examined in the literature. In this paper, we consider nonparametric least...

This paper aims to map the emergence and development of modern banking system in the Philippines during the American colonial period. First, the Philippine foreign trade structure under American rule is briefly surveyed. Second, the process of the enactment of various banking laws and the...

This paper considers the regression model with a slowly varying (SV) regressor in the presence of a unit root in serially correlated disturbances. This regressor is known to be asymptotically collinear with the constant term; see Phillips (2007). Under nonstationarity, we find that the estimated...

This study examines whether the Japanese scheme of nontransferable water rights results in technical inefficiency. Using data on 1,263 Japanese retail water suppliers for 2008, their technical efficiency is measured employing data envelopment analysis. Next, a bootstrapped truncated regression...

We propose new wavelet-based procedure to estimate the memory parameter of an unobserved process from an observed process affected by noise in order to improve the performance of the estimator by taking into account the dependency of the wavelet coefficients of long memory processes. In our...

This paper examines the distinctive features of the Philippine National Bank, particularly through its lending practices in agriculture. First by examining the enactment and revision of the National Bank Act, the Bank's characteristics as an organization and operations are discussed. Second, the...

This paper presents a time series model that has an asymptotically efficient ordinary least squares (OLS) estimator, irrespective of the singularity of its limiting sample moment matrices. In the literature on stationary time series analysis, Grenander and Rosenblatt's (1957) (G-R) classical...