We develop a theoretical model in which debt and hedging decisions are made simultaneously, and test its predictions empirically. To address inefficiencies in current estimation methods for simultaneous equations with censored dependent variables, we build an original estimation technique based...

Purpose – This chapter discusses the potential role that Sovereign Wealth Funds (SWFs) could play to enhance development in African economies, both as recipient and home countries. Methodology – We use hand collected data on the universe of Africa's SWFs, their sizes and transparency, and...

This paper evaluates the impact of strengthening legal rights on the types of economic opportunities pursued. Ethiopia changed its family law, expanding wives’ access to marital property and removing restrictions to working outside the home. This reform was initially rolled out in the two...

Using three nationally representative surveys from the country, we estimate the private rates of returns to education in The Gambia. To obtain consistent estimates, we exploit exogenous variation in school availability in the country at the district level at the time current wage earners were...