The paper argues that networked firms are likely to have an advantage in securing externalfinance in countries with weak legal and judicial institutions since it helps financial institutionsto minimize the underlying agency costs of lending. An analysis of recent BEEPS data fromfifteen Central...

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

In the context of strikingly low literacy rates among Indian women and low caste population, the paper explores whether and how far the interests of the marginalized poor are undermined by the dominant elite consisting mainly of the landed and the capitalists. We distinguish the dominant elite...

Given the intrinsically sequential nature of child birth, timing of a child's birth has consequences not only for itself, but also for its older and younger siblings. The paper argues that prior and posterior spacing between consecutive siblings are thus important measures of intensity of...

While credit is essential for investment, innovation and economic growth, there are risks related to excessive indebtedness in the corporate sector in the form of increased likelihood of financial distress and bankruptcy. The recent global crisis has highlighted the macroeconomic risks of credit...