This report is a summary of "World Development Report 1995: workers in an integrating world" which deals with labor and employment, issues that are important to South Asia. Indeed, expanding employment and increasing the remuneration of workers, which are crucial for poverty elimination, is the...

Institutional lending in crisis is evaluated from a theoretical point of view. First, the share of senior loans in new loans is irrelevant under a given probability distribution of the country's resources. Second, seniority may partially alleviate the inefficiency of debt contracts when the...