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作者：Fleisher, BM; Wang, XJ
作者单位：University System of Ohio; Ohio State University; University of Hawaii System
摘要：A body of existing research attributes evident underpayment of workers and low private returns to schooling in China through the mid-1990s to the persistence of labor-market monopsony. We find that rural enterprises overpay production workers relative to a monopsony profit-maximizing benchmark, while there is extreme underpayment of skilled workers relative to the monopsony profit-maximizing amount. This relatively large exploitation of skilled workers explains, in a proximate sense, low priva...
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作者：Christopoulos, DK; Tsionas, EG
作者单位：Athens University of Economics & Business
摘要：in this paper we investigate the long run relationship between financial depth and economic growth, trying to utilize the data in the most efficient manner via panel unit root tests and panel cointegration analysis. In addition, we use threshold cointegration tests, and dynamic panel data estimation for a panel-based vector error correction model. The long run relationship is estimated using fully modified OLS. For 10 developing countries, the empirical results provide clear support for the hy...
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作者：Kondo, H
作者单位：Shinshu University
摘要：This paper presents a model which integrates an economic geography model with an endogenous growth model and examines how the specialization pattern and global economic growth rate are determined in an economy with decreasing transaction costs. If transaction costs decrease slowly and the agglomeration process has not yet been completed, economic activities tend to agglomerate in the region with large land mass and a high growth rate will be attained. On the other hand, a sharp decrease in tra...
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作者：Kochar, A
作者单位：Stanford University
摘要：Many believe that low levels of schooling in rural areas of developing economics are a consequence of the low rate of return to schooling in agriculture, This belies the possibility that rural schooling decisions are undertaken in response to the possibility of employment in urban areas. This paper tests this hypothesis, using three cross sections of household data for rural India. It finds that urban rates of return do influence rural schooling, particularly amongst households who are most li...
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作者：Li, HB; Rozelle, S
作者单位：Chinese University of Hong Kong; University of California System; University of California Davis
摘要：This paper studies insider privatization in rural China and provides an explanation of why some firms have performed well after privatization but others have not. We show theoretically that the underperformance of insider-privatized firms could be due to the manager-cum-owner's lack of incentives after privatization. A screening theory predicts that the buyout price is correlated with the postprivatization incentives, and a firm's postprivatization performance increases with both the buyout pr...
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作者：Rigolini, J
作者单位：New York University
摘要：We analyze the worker's incentives to acquire skills under technological progress when the costs of education are endogenous and depend on the wage distribution. We show that the agent, S intergenerational elasticity of substitution plays then a relevant role in determining how incentives and the long-run wage distribution react to technological progress. Moreover, whenever poverty traps of unskilled workers exist, higher rates of technological progress can even decrease the incentives of low-...
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作者：Majumdar, S; Mani, A; Mukand, SW
作者单位：Queens University - Canada; Williams College; Tufts University
摘要：Governments in many LDCs skew public resources towards urban sectors, despite a majority of citizens residing in rural areas. This paper develops a novel political argument for this urban-bias phenomenon in a framework where all voters, rural and urban, have equal voice, but differ in their access to information. We argue that this difference is sufficient to give governments an incentive to inefficiently over-allocate resources towards urban areas. The bias is shown to worsen during adverse e...
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作者：Rosenzweig, M; Kochar, A
作者单位：Harvard University; Stanford University
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作者：Carranza, L; Galdon-Sanchez, JE
作者单位：Universidad Publica de Navarra; University of Navarra
摘要：In this paper we build a model of financial intermediation that explains the pattern of GDP variability in an economy during the development process. We find evidence that per capita output is more volatile in middle-income economics than in both low and high-income economies. We show that, if the model economy is in the early or in the mature stages of development, there is a unique equilibrium. However, in the middle stages of development, multiple equilibria exist. Moreover, we find that in...
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作者：Harrison, AE; Love, I; McMillan, MS
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; The World Bank; Tufts University
摘要：Finns often cite financing constraints as one of their primary obstacles to investment, Global capital flows, by bringing in scarce capital, may ease host-country firms' financing constraints. However, if incoming foreign investors borrow heavily from domestic banks, multinational firms may exacerbate financing constraints by crowding host-country firms out of domestic capital markets. Combining a unique cross-country firm-level panel with time-series data on restrictions on international tran...
