-
作者：Belhaj, Mohamed; Deroian, Frederic
作者单位：Centre National de la Recherche Scientifique (CNRS)
摘要：We examine the impact of informal risk sharing on risk taking incentives when transfers are organized through a social network. A bilateral partial sharing rule satisfies that neighbors share equally a part of their revenue. In such a society, correlated technologies generate interdependent risk levels. We obtain three findings. First, there is a unique and interior Nash-equilibrium risk profile, and it is in general differentiated and related to the Bonacich measure of the risk sharing networ...
-
作者：Aldashev, Gani; Chaara, Imane; Platteau, Jean-Philippe; Wahhaj, Zaki
作者单位：University of Namur; University of Oxford; University of Namur
摘要：The custom often acts as a powerful hindrance to equity-increasing changes. In this paper, we present a simple model of legal dualism in which a progressive legal reform can, under certain conditions, shift the conflicting custom in the direction intended by the legislator. Formal law then acts as an outside anchor that exerts a 'magnet effect' on the custom. We also characterize the conditions under which a moderate reform performs better than a radical one in improving the welfare of the dis...
-
作者：Jarreau, Joachim; Poncet, Sandra
作者单位：Paris School of Economics; heSam Universite; Universite Pantheon-Sorbonne
摘要：We consider the effect of export sophistication on economic performance by appealing to regional variation within one single country (China) over the 1997-2009 period. We find evidence in support of Hausmann, Hwang and Rodrik (2007), in that regions specializing in more sophisticated goods subsequently grow faster. We find substantial variation in export sophistication at the province and prefecture level, controlling for the level of development, and that this sophistication in turn drives gr...
-
作者：Boyd, John H.; Jalal, Abu M.
作者单位：Suffolk University; University of Minnesota System; University of Minnesota Twin Cities
摘要：This study presents a new measure of financial development that is directly derived from theory. Our measure, the Marginal Utilization of Debt (hereafter, MUD) comes from the seminal work of Myers (1984), Myers and Majluf (1984) and Shyam-Sunder and Myers (1999). Further, it is directly related to the development facts of Gurley and Shaw (1955). MUD is a global measure that reflects conditions in both debt and equity markets. It varies enormously across nations; from 0.23 in Australia at one e...
-
作者：Thornton, Rebecca L.
作者单位：University of Michigan System; University of Michigan
摘要：This paper examines the effects of learning HIV status on economic behavior among rural Malawians. According to economic life-cycle models, if learning HIV results is informative about additional years of life, being diagnosed HIV-positive or negative should predict changes in consumption, investment and savings behavior with important micro and macro-economic implications. Using an experiment that randomly assigned incentives to learn HIV results, I find that while learning HIV results had sh...
-
作者：Arcand, Jean-Louis; Fafchamps, Marcel
作者单位：University of Oxford
摘要：Using a rich dataset from West Africa. we examine the household characteristics associated with membership in community-based organizations (CBOs). We find that on average it is the more fortunate members of rural society who belong in CBOs. In Senegal, the dominant criterion is land ownership. In Burkina Faso it is age and family ties with village authorities. Ethnicity plays a role as well: CBO membership is less likely for ethnic groups that traditionally emphasize livestock raising. Next w...
-
作者：Bettin, Giulia; Lucchetti, Riccardo; Zazzaro, Alberto
作者单位：Marche Polytechnic University; Marche Polytechnic University
摘要：We estimate a remittance model in which we address endogeneity and reverse causality relationships between immigrants' remittances, pre-transfer income and consumption. In order to take into account the fact that a large share of individuals do not remit, instrumental variable variants of the double-hurdle and Heckit selection models are proposed and estimated by Limited Information ML; semiparametric extensions are considered as robustness checks. Our results for a sample of recent immigrants...
-
作者：Brueckner, Markus
作者单位：University of Adelaide
摘要：This paper exploits the significant response of real GDP growth of Sub-Saharan African countries to exogenous international commodity price and rainfall shocks to construct instrumental variables estimates of the tax revenue elasticity IV estimates yield that a 1% increase in GDP increases tax revenues by up to 2.5%. (C) 2011 Elsevier B.V. All rights reserved.
-
作者：Ravallion, Martin
作者单位：The World Bank
摘要：The 20th Human Development Report introduced a new version of its famous Human Development Index (HDI), which aggregates country-level attainments in life expectancy, schooling and income. The main change was to relax the past assumption of perfect substitutability between its components. Most users will not, however, realize that the new HDI has also greatly reduced its implicit weight on longevity in poor countries, relative to rich ones. By contrast, the new HDI's valuations of extra school...
-
作者：Berg, Andrew; Ostry, Jonathan D.; Zettelmeyer, Jeromin
作者单位：International Monetary Fund; European Bank of Reconstructon & Development
摘要：We identify structural breaks in economic growth in 140 countries and use these to define growth spells: periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries than elsewhere. We find evidence that growth duration is positively related to: the degree of equality of the income distribution; democratic institutions; export orientation (with higher propensities to expo...
