The paper reconsiders the relationship between international banking risk and economic development. It is shown quite conclusively that the significant explanatory variables of international banking risk scores (when international banking risk is used as a proxy for country risk) are the income...

An overlapping-generations model for rural to urban labor migration is developed. In the migration decision the potential migrants consider both the absolute income gain and the relative deprivation associated with moving to town. It is shown that the relative deprivation mechanism introduces a...

The paper examines how democracy affects long-run growth by influencing the quality of governance. Empirical evidence is first presented showing that measures of the quality of governance are substantially higher in more democratic countries. A general-equilibrium, endogenous growth model is...

The paper presents two short-run, structuralist models of an export-oriented, two-sector, semi-industrialized economy in which women workers are concentrated in export production. The first model analyzes the comparative static effects of an exogenous increase in female wages holding male wages...

The paper examines the international inequality and convergence of educational attainment from 1960 to 1990. Despite the increasing trend in educational attainment, the gap in educational attainment between the developing countries and developed countries and that between males and females...

Savings are an important determinant of both individual and national wellbeing. Typically, households employ a wide range of mechanisms for saving, including both formal and informal institutions. The choice of savings instrument has important micro- and macroeconomic implications. However,...

This study analyzes male-female differences in workforce participation and self-employment in rural Guatemala. Gender differences in rural labor market outcomes are examined using the 1997 Survey of Rural Entrepreneurs and Financial Services, conducted in the rural areas of the departments of...

The author develops a theory of the choice of contractual arrangements in agriculture by analyzing the incentives, risk-premia, and agency (supervision and shirking) costs under different contracts using the principal-agent framework. The theory is able to explain many tenancy-related issues,...

The paper investigates the role of fundamentals in the speculative episodes experienced by the Greek drachma during the 1990s, and examines whether the openness of the Greek economy has altered the role of fundamentals in the likelihood of a currency crisis. An interesting aspect of the...

The paper analyzes a simple differential game model of international technology transfer via foreign direct investment, in which a subsidiary of a multinational corporation and a host-country firm are engaged in a technology accumulation race. In contrast to previous works, it is shown that an...