Congestion charges pose a policy dilemma due to the balance that must be made between the management of a quasi public good along with the correction of negative externalities against the needs of economic, demographic, and urban growth along with citizen acceptance. The literature provides...

This paper analyzes de-facto integration in some Emerging Market Economies based on behavior of deviations from Covered Interest Parity in the last 10 years. A price-based measure of de-facto integration provides crucial information for answering policy questions related to impact of capital...

Abstract Using national data from 14 representative developing countries, this paper explores rural wage employment and its potential as a mechanism for improving the living standards of the rural poor. The analysis suggests that the sector of employment (agricultural or non-agricultural) and...

Air and sea passenger transport were generally considered as serving different market segments with little competition between them. Recent research has however shown that the existence of a deregulated operating framework can lead to improved competition between the two modes. This article aims...

Decisions of investing in sovereign assets involve both risk and ambiguity. Ambiguity arises from unknown elements characterizing the value of a generic sovereign. In presence of ambiguity, ambiguity-averse investors are prone to pay for obtaining summary information such as ratings which...

This paper examines the market conditions that facilitate the entry of for-profit institutions into the higher education market. I show how, despite significant government financial support for public institutions, for-profit institutions may still find it profitable to enter the market. They do...

A unified growth model is presented in which productivity growth is driven by learning-by-doing. We show that the growth rate of productivity is an increasing function of the share of capital. It is assumed that the industrial sector has a higher capital share than the agricultural sector and...

We document a positive association between political uncertainty and accounting conservatism. In the year prior to a U.S. presidential election, on average, accounting conservatism increases by nearly 20 percent. This election year effect is stronger when the election is closer, when the...

This paper on comprehensive education is one of five background thematic papers prepared for the Global Youth Forum of the International Conference on Population and Development Beyond 2014 Review. The forum was organized by UNFPA in Bali (Indonesia) on December 4-6, 2012. The paper reviews the...

Purpose: Mergers and acquisitions (M&A) have become a popular vehicle for domestic as well as international companies to rapidly access new markets, assets and capabilities. This motivates us to study the impact of open offers on shareholders returns in the Indian context....