In this paper, we model an overlapping generation economy affected by an unexpected immigration shock and determine how households would insure themselves against "immigration risks" efficiently. We use the model to study the impact of immigration on (i) the welfare of various generations, (ii)...

The objective of this paper is to obtain estimates of the effect of HIV prevalence on the growth rate of real GDP per capita between 1990 and 2004 that are not affected by the presence of simultaneity. To achieve this goal requires an instrumental variable that is correlated with changes in the...

Concern about the high poverty rates experienced by children in female-headed households has led to policies aimed at increasing these households' income. In this paper we present a model that analyzes decisions made before and during marriage to invest in the human capital of parents and...

A central development within the management literature has been the growth of nascent entrepreneur research analysing on--going venture start-up efforts and/or firms in gestation over time (Davidsson, 2006). New ventures have an important effect on economic development. They are credited for the...

This extended data appendix describes the sources and methods used to construct the data used in our paper "Economic Growth in the Long Run."

It is usual to formulate policies that react on the consequences, not the causes of family structure. In the design of policies, it is important to consider that institutions evolve in response to individual incentives and affect the performance of political and economic systems. Formal rules...

Despite improvements in enrolment rates in recent decades, the Peruvian school system still has serious shortcomings. A high drop-out rate in secondary school stems from the fact that the system does not provide adequate support for students who fall behind, cannot afford to go to school, or...

This paper provides a simple development mechanism for African nations, where economic development is low due to not only low level of physical capital but also poor social capital that leads to lot of conflicts. The study suggests for development of social capital, which is a broader concept...

This paper summarizes the existing definitions of human capital from theoretical debates and empirical surveys and argues for the need to revise how human capital composition and formation processes are currently understood. A new framework is introduced to present human capital as a complex...

While there is consensus that industrial development is imperative in developing countries to reduce poverty and to attain sustainable economic growth, there is no consensus on how to develop industries in developing countries. The emerging literature on cluster-based industrial development,...