HIV/AIDS is drastically changing the demographic landscape in high-prevalence countries in Africa. The prime-age adult population bears the majority of the mortality burden. These “missing” prime-age adults have implications for the socioeconomic well-being of surviving family members. This...

This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysis finds that relative to large firms in the same industry, spending on research and development by small firms is more likely and sizable in...

Creditor-friendly laws are generally associated with more credit to the private sector and deeper financial markets. But laws mean little if they are not upheld in the courts. The authors hypothesize that the effectiveness of creditor rights is strongly linked to the efficiency of contract...

This policy note was prepared in parallel to the report Pakistan at 100 - Shaping the Future. The report Pakistan at 100 discusses options to accelerate and sustain growth in Pakistan so that the country becomes an upper middle-income country when it turns hundred years old in 2047. This policy...

This paper examines how the 2008-09 financial crisis affected labor markets in Central and Western Europe, and how this impact depended on employment protections laws. Using a differences-in-differences approach that compares industries with varying degrees of inherent dependence on external...

Despite the importance of agglomeration externalities in theoretical work, evidence for their nature, scale, and scope remains elusive, particularly in developing countries. Identification of productivity spillovers between firms is a challenging task, and estimation typically requires, at a...

Throughout the developing world, many countries have created special economic zones to attract investment and spur industrial growth. In some cases, these zones are designed to promote development in poorer regions with limited market access and lower quality infrastructure, an example of a...

This paper examines the impact of a property rights reform in rural China that allowed farmers to lease out their land. We find the reform led to increases in land rental activity in rural households. Consistent with a model of transaction costs in land markets, our results indicate that the...

This paper introduces a new primary dataset on dowry payments in rural India. A novel feature of the data is that in addition to eliciting actual dowry payments, we also asked rural Indian households how much dowry they expected to pay/receive for each of their currently unmarried children....

Current global health policies emphasize institutional deliveries as a pathway to achieving reductions in newborn mortality in developing countries. There is however remarkably little evidence regarding a causal relationship between institutional deliveries and newborn mortality. In this paper...