This study examines whether income distribution affects school enrolment at primary, secondary and tertiary levels. Using cross-national evidence, it is found that a country's income inequality is positively and significantly associated with primary school enrolments. However, there is a...

There is increasing recognition that corruption has an adverse influence on growth as it distorts both market economy and democracy. However, the existing literature has failed to address countries' characteristics as far as the process of sample selection is concerned. This paper empirically...

We build a model consisting of a borrowing firm, a lending institution (bank), and a third party influencing loan decision-making (auditor/government regulator) where a low-type firm can bribe the auditor to file an untruthful report about its true type so as to obtain a loan from the bank to...

This study investigates the relationship between cultural diversity, political violence and public expenditures. Using a cross-section of cultural diversity indices, it is empirically examined whether cultural diversity caused or intensified political violence in the 1980s and 1990s. It is found...

This article empirically investigates the relationship between government size and country size for the new countries that gained independence between 1990 and 1993. The relationship between democracy and country size is also investigated. It is found that new independent states have higher...

This article investigates the role of financial market development on business cycle volatility in the economy of Korea, using time-series data for the period 1967 to 2010. The financial market development and business cycle volatility are measured by three different variables of financial...

"This study provides a theoretical background for collusion-induced overlending being the main cause of the 1997 Korean financial crisis. Our model consists of a lending institution, a borrowing chaebol of an unknown type, and an informed politician who can influence lending decision. We show...

The paper examines the impact of the income distribution in a less-developed country (LDC) on its patterns of trade, through its influence on home market demand patterns. In a learning-by-doing model with nonhomothetic preferences, the authors show that import substitution under low inequality...