Countries differ in their absolute and relative productivities in doing research across different technologies. They also differ in their propensity to adopt different technologies from abroad. Moreover, technologies may vary in their international mobility. We make use of new data on...

Measures of innovative activity show it to be concentrated in a small number of countries. Yet the benefits of innovation are experienced broadly. International trade is one conduit through which the benefits of innovation in one country can flow abroad. Technological diffusion is another. In...

We analyse the behaviour of foreign banks who sequentially provide credit to finance projects in an emerging market. The foreign banks are exposed to both micro-economic risks and the macro-economic risk of a currency crisis, and there are no bailout guarantees.

We develop a framework for estimating the optimal expenditure of agents subject to unobserved liquidity constraints. OUr framework allows us to estimate credit ceilings as well as preference parameters. We apply the framework to data on net resource transfers from private lenders to twenty-nine...

Compulsory schooling of children is used as an instrument for eliminating the incidence of child-labour in most countries. Given this context, the importance of parental domain as a separate entity in decision-making for primary schooling of children in India is highlighted. Since many children...

This paper studies the persistence of inequality and lack of intergenerational mobility in a human capital accumulation model with perfect certainty, missing credit markets, endogenous training costs and dynastic utility maximization by households. Persistent inequality and immobility in steady...