This article sets flight capital in the context of portfolio choice, focusing on the proportion of private wealth that is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. The authors explain cross-country...

In this volume, world-renowned contributors, including Martin Ravallion, Michael Kremer and Robert Townsend, deal with the institutional characteristics of poverty resulting from the time pattern of aid, the nature of financial systems and the political economy of budgetary decisions. Going...

Empirical work in labor economics has focused on rent sharing as an explanation for the observed correlation between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four African countries,...

Empirical work in labor economics has focused on rent sharing as an explanation for the observed correlation between wages and profitability. The alternative explanation of risk sharing between workers and employers has not been tested. Using a unique panel data set for four African countries,...

This article sets flight capital in the context of portfolio choice, focusing on the proportion of private wealth that is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 percent in Africa. The authors explain cross-country...