This paper examines different approaches for promoting empowerment and discusses conditions required for effective empowerment. It focuses on three empowerment models, including grievance redress, participatory performance monitoring, and community-driven development. There are three sets of...

The present paper is the result of a comprehensive comparative study on firm population and the dynamics of market structure which was performed in eight European countries in 2007. The aim of the study is to shed a light on the comparability of national firm-level micro data regarding the...

This paper uses efficiency wage theory and the existence of community-based sharing to hypothesize that labor markets in developing countries have multiple equilibria—the same economy can be stuck at different levels of unemployment with different levels of wages. The model is meant for...

This paper uses efficiency wage theory and the existence of community-based sharing to hypothesize that labor markets in developing countries have multiple equilibria - the same economy can be stuck at different levels of unemployment with different levels of wages. The model is meant for...

I study the coexistence of formal and informal finance in underdeveloped credit markets. While weak institutions constrain formal banks, shallow pockets hamper informal lenders. In such economies, informal finance has two effects. By increasing the investment return it decreases borrowers'...

William J. Baumol has been one of the most influential economists in the last fifty years. Pioneering work in the theory of money, foremost research in the theory of competition, industrial organization and technological change, notable analyses in the theory of externalities and environment,...