Using data from the Philippines, this paper seeks to understand how households in the study area apparently manage to avoid falling in a debt trap in spite of frequent borrowing. Findings suggest this is achieved via three institutional features. First, most informal debt carries no interest. As...

Using data from the Philippines, this paper seeks to understand how households in thestudy area apparently manage to avoid falling in a debt trap in spite of frequent borrowing.Findings suggest this is achieved via three institutional features. First, most informal debtcarries no interest. As we...

Using data from the Philippines, this article seeks to understand how households in the study area apparently manage to avoid falling into a debt trap in spite of frequent borrowing. Findings suggest that this is achieved via three institutional features. First, most informal debt carries no...

This paper examines the formation of risk sharing networks in the rural Philippines. We find that geographic proximity–possibly correlated with kinship–is a major determinant of mutual insurance links among villagers. Age and wealth differences also play an important role. In contrast,...

This paper examines how wealth accumulation and risk sharing affect the evolution of inequality over time. We first assume risk sharing away and examine how inequality evolves over time when agents accumulate an asset. If asset accumulation is unbounded and the asset yields a positive return,...

Using detailed survey data from Nepal, this paper examines the determinants of child labor with a special emphasis on urban proximity. We find that children residing in or near urban centers attend school more and work less in total but are more likely to be involved in wage work or in a small...