This paper examines effects of different types of corporate borrowing on firm profitability in India. We show that in contrast to the conventional thinking on the importance of monitored debt in determining firm performance, what matters more is arm's-length lending in the form of fixed deposits...

The Indian manufacturing sector has rapidly increased its integration with the world economy since the 1991 trade reforms. We examine whether trade integration created or destroyed jobs in the Indian manufacturing sector, and compare India's employment outcomes with four other...

Since the 1980s, Kenya has been gradually integrating with the global economy. Using both industry-level and firm-level data, the paper examines the effects of globalization on employment and earnings in the Kenyan manufacturing sector. The industry-level analysis suggests that the overall...

This paper extends the literature on finance and investment by examining the source of finance constraints on the firm's investment decisions. Using a panel of 714 Indian manufacturing firms for the period 1993-98, we find that the degree of 'finance constraint' differs significantly across...

This paper analyzes the determinants of rural poverty in India, contrasting the situation of scheduled caste (SC) and scheduled tribe (ST) households with the non-scheduled population. The incidence of poverty in SC and ST households is much higher than among non-scheduled households. By...

he caste system – a system of elaborately stratified social hierarchy – distinguishes India from most other societies. Among the most distinctive factors of the caste system is the close link between castes and occupations, especially in rural India, with Dalits or Scheduled Castes...