This paper examines the relation between financial, corporate and legal systems and economic performance in different countries. It reviews international comparisons that use large, cross-country databanks, including developing countries. These suggest a strong association of financial...

We investigate the question of whether firms in Africa's manufacturing sector are credit constrained. The fact that few firms obtain credit is not sufficient to prove constraints, since certain firms may not have a demand for credit while others may be refused credit as part of profit maximising...

Livestock makes an important contribution to the livelihood of Sahelian farmers and herders and is a source of self-insurance against income shocks. By allocating livestock efficiently over space, spatial market integration should foster a sustainable use of pasture resources. It is also...

This paper revisits the tragedy of the commons and examines the conditions under which externalities contribute to livestock cycles. Using a stylised intertemporal model capturing the main characteristics of African livestock producers, we show that externalities magnify livestock cycles...

Not only does livestock make an important contribution to rural incomes and export earnings in the Sahel, it is also kept as insurance against weather risk. Fluctuations in livestock prices can therefore trigger food entitlement failures. Using monthly price data from Niger, we show that...

This paper develops a theoretical model of land leasing that includes transaction costs of enforcing labour effort, risk pooling motives and non-tradable capital inputs. We test the implications of this model compared to those of the "Marshallian" (unenforceable labour effort) and "New School"...

This study looks at public service delivery in rural areas of Madagascar. The blockade of the central highlands of Madagascar by a defeated president let us examine the short-term effect of a large unanticipated macro shock and subsequent elimination of user fees on the rural delivery of health...

This paper investigates the relationship between criminal activity and geographical isolation. Using data from Madagascar, we show that, after we control for population composition and risk factors, crime increases with distance from urban centres and, with few exceptions, decreases with...