by existing models of financial constraints. This paper presents a dynamic model of the firm that incorporates working … capital by introducing a delay between factor payments and the receipt of revenue. In contrast with previous models, the … to negative shocks. Simulations suggest that models without working capital may understate the predicted effects of …

revolution, as widely noted, has disrupted the making, distribution, and consumption of creative output. On the downside, key … understand the benefits and limitations of digital technologies on creative work for human development …

comparison with Sub-Saharan Africa. Much of the progress has occurred through diversification along the ‘extensive margin,’ that …Economic development critically involves diversification and structural transformation—that is, the continued, dynamic … reallocation of resources from less productive to more productive sectors and activities. This paper documents that, over an …

Traditional measures of trade diversification only take into account contemporaneous export baskets. These measures … measures of diversification by introducing a novel measure of trade diversification—latent diversification—and proposes a proxy … to measure latent diversification, which is calculated by taking into account the entire history of a country’s exports …

products. Multivariate models of survival probabilities suggest that exchange rate volatility and difficult access to imported … reliance has been increasing in recent years. Zambia's exports are also characterized by a high level of churning of firms and … study of the Zambian export sector. The analysis concludes that one of the main policy levers for unleashing Zambia's full …

important, concurrent dimensions of financial globalization: diversification and offshoring. The diversification dimension … markets and countries. The paper also shows that the nature of financing through both diversification and offshoring has …Financial globalization has gathered attention since the early 1990s because of its macro-financial implications and …

A country's productive structure and competitiveness are harbingers of growth. Growth is a dynamic process based on …-weighted diversity of production) as a method to explore a country's relative growth potential. The analysis finds that there are two … types of growth, predictable or laminar, and unpredictable. This classification is used to create a selection mechanism (the …

hurdles to long-term investment by pension funds, while also proposing international diversification and the creation of … domestic investment opportunities to help portfolio diversification and ultimately improve the delivery of secure, adequate …The potential for pension funds to contribute to capital markets and thereby economic growth has been argued on a …

interventions led to diversification of economic activities and better protection from shocks compared to beneficiaries of the basic … improving households' risk-management through income diversification. The intervention targeted agricultural households exposed … vocational training or a productive investment grant. The authors identify the relative impact of each complementary package …

suggestion from the combined National Sample Survey and Palanpur data is of a slow process of non-farm diversification, whose … diversification could thus yield significant returns in terms of declining poverty and increased income mobility. The evidence from … diversification away from the farm. A growing literature argues that such a rise in inequality could affect the fabric of village …