This paper studies interactions between access to finance, product innovation, and labor supply in a two-period overlapping generations model with an endogenous skill distribution and credit market frictions. In the model lack of access to finance (induced by high monitoring costs) has an...

Interactions between access to finance, product innovation, and labor supply are studied in a two-period overlapping generations model with an endogenous skill distribution and financial market imperfections. In the model lack of access to finance (induced by high monitoring costs) has an...

This paper studies the growth effects of externalities associated with intergenerational health transmission, health persistence, and access to infrastructure (or lack thereof), which affects women's occupational choices. Following a brief review of the evidence on these issues, a gender-based...

Since the 1950s, rapid growth has allowed a significant number of countries to reach middle-income status; yet, very few have made the additional leap needed to become high-income economies. Rather, many developing countries have become caught in what has been called a middle-income trap,...

After experiencing an initial period of rapid growth, many developing countries have fallen into the middle- income “trap”—stuck between low-wage, low-technology markets and high-income, innovation-based developed economies. As previous literature has demonstrated (Agénor and Canuto...