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Publications (19)
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– Landholding patterns and women’s low work participation rates in West Bengal, India
Compared with most other Indian states, women’s reported work participation rates have historically been low in West Bengal. This trend is more prominent in rural areas. Historians have tried to explain this phenomenon in terms of culture and the ideology of domesticity.While persisting cultural...
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– A comparison across different selection models
This study focuses on estimating the returns to education in non-farm self-employed businesses in the Indian context, using nationwide individual- and household-level data provided by the India Human Development Survey for the year 2011/12. Given that different studies have used different types of...
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– A regression discontinuity approach
This paper estimates returns to schooling in Thailand, applying a regression discontinuity approach to the change in the compulsory schooling law in 1978. This law helped to enhance human capital investment on the eve of rapid structural transformation. The returns to schooling based on our...
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– Evidence from Sierra Leone
Using data from Sierra Leone, I explore the role of cognitive ability in sorting across sectors and the importance of perceptions in the employment decision-making process. Crucial to the analysis is the introduction of the aid-industry/development sector as a ‘third sector’, which is shown to be...
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– When manufacturing is jobless and services are tradable
Globalization and robotics (globotics) are transforming the world economy at an explosive pace since they are driven by digital technology that is advancing in phenomenal increments. This paper—which should be considered a ‘thought piece’—argues that the globotics transformation is likely to disable...
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– The role of infrastructure development and gender norms
Traditional gender norms can restrict independent migration by women, preventing them from taking advantage of economic opportunities in urban non-agricultural industries. However, women may be able to circumvent such restrictions by using marriage to engage in long-distance migration—if they are...
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– The Economics of La Lega and Mondragón
This paper develops a theory of endogenous league formation and considers its implications for policy in developing countries. We generalize from features of the two most prominent European co-op leagues, Mondragón and La Lega, to develop the first formal model of the endogenous formation of co...
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– Evidence from East Asia
This paper investigates the benefits and associated agency costs of using internal capital markets through affiliating with groups using data of two thousand firms from nine East Asian economies between 1994-6. We find that mature and slow-growing firms with ownership structures more likely to...
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– Evidence for Italian Public Enterprises' Investment
This study examines the effect of the hardening of the budget constraint on the investment behaviour of Italian state owned enterprises (SOEs). It carries out a natural experiment that exploits the 1987 shift of budget regimes due to the pressure of European Union economic policies on the Italian...
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– The Case of Italian State-Owned Firms and the European Union
This paper contributes to the literature on the role of decentralization in hardening the budget constraint of public enterprises. Following Qian and Roland the study adopts a ‘federalist’ approach. However, it interprets federalism as the upward devolution of domestic economic policies to a...
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– A Rent Seeking Model of China’s Township-Village Enterprises
I present a study of ownership of firms under government rent seeking. Using its control of regulated inputs, a government agency extracts rents from a manager who undertakes an investment. Such a government rent seeking activity leads to a typical hold-up problem. Government ownership is shown to...
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This paper analyzes the ‘Silicon Valley model’ as a novel economic institution in the domain of technological product system innovation such as computers. We focus on the information structural relationship as well as governance relationships between venture capitalists and a cluster of...
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– Global Perspectives
We examine the role of institutional investors in financial markets and in corporate governance. In many countries, institutional investors have become the predominant players in financial markets and their influence worldwide is growing, chiefly due to the privatization and development of pension...
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– A Comparison of the United States, Japan, and Other East Asian Economies
We document that firms in eight East Asian countries and Japan diversify into more segments and engage into more related businesses―as measured by the degree of vertical relatedness and complementarity―than firms in the USA. Using data for the 1990-6 period, we observe a trend towards complementary...
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– Network Externalities and Mondragón and La Lega Co-Operative Networks
This paper examines strategies developed by Mondragón Co-operative Corporation in the Basque Region of Spain, and La Lega co-operative network in Italy, to mitigate disadvantages of the typical co-operative organizational structure and market position but without losing its critical advantages and...
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Increased equity participation by employees has attracted substantial interest for its potential to affect both economic outcomes (e.g., worker and firm performance) and social outcomes (e.g., wealth and income inequality). This paper summarizes the findings from over 50 large-sample empirical...
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