Purpose - Many experts suggest that the human being explore marine resources and marine new energy sources to alleviate the shortage of land resources and the ecological degradation. However, island coastal zones are considered to be fragile ecosystems; their geographical location and natural...

We analyze a simple and tractable model of occupational choice in the presence of credit market imperfections. We examine the effect of parameters governing technology and transaction costs, and history, in terms of the initial wealth distribution, in determining the long-term wealth...