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Infrastructure requirements have long played an important role in the development debate. Until recently these requirements referred to the need for improvements in roads, railways, electricity supply, telecommunications and the like. Lack of such infrastructure was seen as an important cause of...
Persistent link: https://www.econbiz.de/10005742662
In this paper, the authors show how an interlinkage between the credit and output markets is an endogenous outcome of credit market imperfections. Also, such interlinkages are Pareto optimal. This is worked out under the assumption of infinite availability of funds with the money lender. If,...
Persistent link: https://www.econbiz.de/10005744156
This paper considers a dual economy in which the urban sector has open unemployment while the rural sector has surplus labor. The model is a n extension of the Harris-Todaro (1970) framework as developed by Kul B. Bhatia (1979), where full employment is said to exist when open u nemployment and...
Persistent link: https://www.econbiz.de/10005578202
The contribution of this paper is in emphasizing endogenous credit rationing in the <p> analysis of effects of bankruptcy rules on entrepeneurs’ decisions with respect to risk-taking <p> and ex ante skill-development. Unlike most of the literature, both the debt claim <p> and the amount of debt...</p></p></p>
Persistent link: https://www.econbiz.de/10005644707
Persistent link: https://www.econbiz.de/10010772754
In discussions of economic development, industrial dualism is often ignored. Industry, or the modern sector, in developing countries is composed of an overregulated formal sector and a free-entry informal sector. Because of the nature of the regulations we can, in general, identify the formal...
Persistent link: https://www.econbiz.de/10010616623
The contributors – top international scholars from finance, law and business – explore the role of governance, both internal and external, in explaining risk-taking and other aspects of the behavior of financial institutions. Additionally, they discuss market and policy features...
Persistent link: https://www.econbiz.de/10011181939
We offer new conceptual insights into the understanding of occupational choice in uncertain rural environments, with a focus on its ex ante &lpar;before a shock&rpar; and ex post &lpar;after a shock&rpar; consequences for farmers belonging to different portions of the asset distribution. We model theoretically the...
Persistent link: https://www.econbiz.de/10011099472
The authors investigate the choice of competing exporters to move simultaneously or sequentially when a voluntary export restraint has introduced both asymmetry and uncertainty amongst them. A restrained and an unrestrained exporter choose price strategically under the threat of a voluntary...
Persistent link: https://www.econbiz.de/10005550017
It is now stylized that, while the impact of ownership on firm productivity is unclear, product market competition can be expected to have a positive impact on productivity, thereby making entry (or contestability of markets) desirable. Traditional research in the context of entry has explored...
Persistent link: https://www.econbiz.de/10005566382