The Democratic Republic of Congo (DRC) is rich in natural resources, but its economy remains vulnerable to fluctuations in commodity prices. Endogenous economic diversif ication, a concept aimed at broadening a country’s economic base by utilizing its own resources and capacities, could offer...

We identify the effect of the relative timing of program introduction to local elections on service delivery. Exploring randomized provision of a credit program in China and variations in local political cycles, we find villages introducing the program before elections experience higher take-up...

This article examines the extent to which financialization is a new phase of capital accumulation characterized by its own economic laws in which the real (production) economy adjusts accordingly. In order to examine this hypothesis, we invoke the share of the financial sector in the GDP of the...

Bolivia is one of the largest developing countries inSouth America that has been received the aid from theinternational cooperation since the seventies. Manyprogrammes and projects were implemented across theterritories of the country in the aim to reduce the poverty.However, the experiences...

In this paper, we argue that the role of the State (to be understood as a holistic term referring to the public sector as whole), far from being withering out, is in fact massive, dominant, and crucial to China's industrial development. Actually, it has been strengthened by the successful...

This essay suggest a theoretical framework for studying the accumulation process in an historical perspective. This framework comprises the expansion routes effectively or potentially open to big firm growth, available channels for funding investment expenditures and the barriers to corporate...

This paper uncovers evidence of s potentially important channel linking financial development to growth: the financing of innovations introduced by entrepreneurs. Using internationally comparable data on European countries, entry and exit in research-intensive industries are found to be...

There is little doubt that SMEs plays a vital role in development of an underdeveloped economy, but still this sector is facing multifarious problems relating to raw materials, power, land, marketing, transport, technical facilities, and finance etc and due to these constraints it is getting...

The Chinese state has integrated its economy into the neoliberal globalization of trade and investment without neoliberalizing its own financial markets, and to ensure stability, the state applies strict controls on interest rates, capital movement and the value of RMB. The Chinese state...

Hace 25 años, el CEDEP publicó mi libro, Los Grupos Financieros en el Ecuador. El libro, con 665 paginas, era una versión resumida y editada de mi Tesis de Grado como Economista de la Pontificia Universidad Católica del Ecuador (PUCE), presentada en agosto de 1989. El estudio construía...