The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...

The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...

This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of credit contracts with moral hazard, we show that a firm's probability of default is a sufficient statistic for capital allocation. The theoretical framework suggests an aggregate...

This paper extends the existing literature on FDI and wage inequality. We do this in two ways. Firstly, we incorporate more precise measures of inward investment into the model, by allowing for differences in the effects between horizontal and vertical FDI. Secondly, after establishing the...

The UK has been a bridge between the US and Europe, and more recently between Asia and Europe. The more trade barriers that exist between the UK and Europe, the less attractive the UK will become. In many sectors and in many regions inward investment is likely to decline.

Given the intrinsically sequential nature of child birth, timing of a child's birth has consequences not only for itself, but also for its older and younger siblings. The paper argues that prior and posterior spacing between consecutive siblings are thus important measures of intensity of...

The present paper argues that intergenerational transfers between elderly parents and adult children are important determinants of any coresidency arrangement though generally overlooked in the existing literature. In this respect the paper distinguishes between exchange of both financial and...

If fertility reflects the choice of households, results of their choice (duration between successive births and health of the children) cannot be considered to be randomly determined. While most existing studies of child health tend to overlook the effects of fertility selection on child health,...

This paper examines the relationship between early childbearing and child mortality in Bangladesh, a country where adolescent childbearing is of particular concern. We argue that effective use of specific health inputs could however significantly lower child mortality rates even among adolescent...

In the context of strikingly low literacy rates among Indian women and low caste population, the paper explores whether and how far the interests of the marginalized poor are undermined by the dominant elite consisting mainly of the landed and the capitalists. We distinguish the dominant elite...