We propose linear programming tests for spanning and intersection based on stochastic dominance rather than mean-variance analysis. An empirical application investigates the diversification benefits to US investors from emerging equity markets.

The adoption of modern technologies in agriculture is crucial for improving productivity of poor farmers and poverty reduction. However, the adoption of modern technology has been disappointing. The role of value chains in technology adoption has been largely ignored so far, despite the dramatic...

What determines the technology that a country adopts? While there could be many factors, the efficiency of the country's financial system may play a significant role. To address this question, a dynamic contract model is embedded into a general equilibrium setting with competitive...