Whether or not the marginal product of capital (MPK) differs across countriesis a question that keeps coming up in discussions of comparative economic developmentand patterns of capital flows. Using easily accessible macroeconomic datawe find that MPKs are remarkably similar across countries....

[...]In this article, we explore the DPCs’ approachesto risk management and the extent to which theseapproaches provide competitive advantage. We begin bycharacterizing the major intermediaries in the derivativesmarkets and describing how they manage risk. We thendiscuss the emergence of...

This paper examines the economic organization of the trans-Saharan slave trade between the fourteenth and the nineteenth centuries on those routes that moved slaves from Sudanic Africa via entrepôts in the Sahel and Sahara to the Maghrib. The commercial framework of this trade was integrated...

Children’s lives have been transformed over the past century. Family incomes haveincreased, children lead more solitary lives, attitudes to childhood have changed, newproducts have been developed and commercial pressures on children have increased.The importance of these commercial pressures...