We develop a model of competition among socially motivated microfinance institutions (MFIs), where the MFIs offer repayment-based incentive contracts to credit agents. The agents gather information regarding a borrower, and may, or may not collude with the borrower, taking bribes in return for...

We analyze the impact of total and partial waivers of the U.S. Renewable Fuel Standard (RFS) under uncertain changes in climate conditions that affects crop yields distributions. The main model results show that reducing RFS would make world agricultural consumers better off, and increase U.S....

In this article, we evaluate the relationship and the interaction between financial development, grades of cooperation, in terms of trust and reciprocity, and participation in social networks of the members of a savings and loan association. We used exchanged money quantities according to the...

I evaluate the optimality properties of a two sector market economy consisting of a mass production sector with market power and a competitive sector with small scale production. Adam Smith's results hold: the presence of market power renders production and innovation inefficient, as higher...

We re-examine the relationship between the degree of deposit market competition and bank risk taking in a model where banks compete in differentiated deposit services. When banks invest their deposits directly, as has already been established in the extant literature, an increased degree of...

In this work, we analize the new innovation policy that Conacyt (National Council of Science and Technology) has developed to underpin the competitiveness of Mexican companies. In order to have a foresight scenario to justify the viability of this policy and the use of public resources, we...

Studies on industrial pollution and community pressure in developing countries are rare. We employ previously unused, self-reported toxics pollution data from Mexico to show that there exists some evidence of environmental justice concerns and community pressure in explaining industrial...

Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,...

Market failures in human capital investment and innovation explain the main features of human development and economic growth. This is shown in a Schumpeterian multi-country model with technology transfer and trade. Thus, only institutions expanding investments in nutrition, education, health,...

We make use of a data set that is both long span and high frequency to test for purchasing power parity while allowing for a structural shift in the volatility of the Mexico-US bilateral real exchange rate. The Kim, Leybourne and Newbold (2002) unit root test, robust to changes in the innovation...