Indonesia has a rich historical tradition of mutual cooperation at the community level. This study argues that rotating savings and credit associations (ROSCAs) constitute successful experiences of collective action within the informal financial sector. Therefore, using data from Indonesia...

The positive impact of intangible assets on several measures of economic performance is well documented in the literature. Less clear is what leads firms to invest in intangible assets in the first place. The latter is particularly important since, at least for the Italian manufacturing sector,...

This paper develops models of decision making in a university setting with and without faculty participation. The models predict values for the level of services or programs offered and the quality of those services in a university setting for either private nonprofit or public universities....

We examine the relationship between attendance, uncertainty of outcome, and team quality in the National Hockey League. Based on results from a reduced form model of attendance at 6054 regular season NHL games from 2005/06 to 2009/10, we find evidence that attendance increases when fans expect...

This paper presents evidence that reductions in mortgage interest rates associated with prepayment penalties are greater for riskier borrowers, as measured by mortgage type, credit scores, and local incomes and education levels. This is consistent with an efficiency view that, by reducing the...

The global financial crisis that emerged in mid-2007 has caused considerable economic disruptions in the United States and elsewhere, and exposed major flaws in the global financial system. After examining the origins of the crisis, this paper recommends specific policy responses to resolve the...

Self-selection into healthcare options biases estimates of the effects of healthcare on health outcomes. We exploit exogenous variation in the cost of formal-sector care to show that the use of such care improves short-term health outcomes for acutely ill children in Tanzania. Better...

This paper reviews the literature on the impact of ethnic diversity on economic development. Ethnically polarized societies are less likely to agree on the provision of public goods and more likely to engage in rent seeking activities providing lower levels of social capital. Initial conditions...

I show that malaria misdiagnosis, common in resource-poor settings, decreases the expected effectiveness of an important new therapy - since only a fraction of treated individuals have malaria - and reduces the rate of learning via increased noise. Using pilot program data from Tanzania, I...

The study surveys 1087 university students to examine their personal financial literacy and the relationship between financial literacy and respondents’ sociodemographic characteristics and family background. First-year and third-year business and non-business students are analysed. The...