Can place of residence make the difference between growth and contraction in living standards for otherwise identical households? The authors test for the existence of spatial poverty traps, using a micro model of consumption growth incorporating geographic externalities, whereby neighborhood...

The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic...

This paper uses a new standardized micro database for a large set of developing countries to (1) describe the patterns of labor market outcomes for youth, and (2) explain the contributions of supply and demand factors to youth outcomes. The paper shows that youth face various difficulties in...

Private debt flows to developing countries surged to record levels over the period 2003-07. A few low-income countries have gained access to the international bond market but the bulk of the flows have continued to go to just a few large middle-income countries. Most low-income countries still...

The author uses a large, nationally representative household survey to analyze the impact of internal remittances (from Guatemala), and international remittances (from the United States) on poverty in Guatemala. With only one exception, he finds that both internal and international remittances...

The author of this paper contends that institutional development (ID) is critical to growth and sustainable poverty reduction. Although there is no single model for poverty-oriented institutional development, and ID initiatives vary considerably across sectors and nations, important common...

The author explores the issue of urban over-concentration econometrically, using data from a panel of 80 to 100 countries every 5 years from 1960 to 1995. He finds the following: 1) At any level of development there is indeed a best degree or national urban concentration. It increases sharply as...

How firms react to a given shock may depend on the degree to which rivals are present and on whether potentially viable entrants to that market exist. The authors try to measure these effects internationally by examining the price behavior of the United States in Brazil's market when MERCOSUR...

The author examines five major industrial countries'portfolio investment in developing countries to learn if institutional investors are significant investors in emerging developing countries. The data reveals considerable divergence in the pattern of outward portfolio flow for the industrial...

In universal banking, large banks operate extensive networks of branches, provide many different services, hold several claims on firms (including equity and debt), and participate directly in the corporate governance of firms that rely on the banks for funding or as insurance underwriters. In...