The self-employed constitute a large proportion of the workforce in developing countries and the sector is growing. Different accounts exist as to the causes of this development, with pull factors such as high returns to capital contrasted with push factors such as barriers to more desirable...

This paper is based upon the assumption that firm profitability is determined by its degree of diversification which in turn is strongly related to the antecedent decision to carry out diversification activities. This calls for an empirical approach that permits the joint analysis of the three...

This paper develops a dynamic model of the returns of the Stock Market Index of the Mexican Stock Exchange within the framework of the theory of extreme values and, in particular, carries out an application of the Generalized Pareto Distribution. The statistical analysis shows that many of the...

This paper studies the income inequality and economic development relationship by using unbalanced panel data of OECD and non-OECD countries for the period 1962 - 2003. The nonparametric estimation results show that income inequality in OECD countries are almost on the backside of the inverted-U...

The swap spread is defined as the difference between the fixed rate of an interest rate swap and the yield of the treasury with the same maturity. The swap spread is usually interpreted as the effective proxy of bank liquidity and the credit spread indicator. The interpretation is very similar...