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2001

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Institution
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Articles 91 - 120 of 611

Full-Text Articles in Economics

Announcements, Journal Of Microfinance Sep 2001

Announcements, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Rethinking The Approach To The Microenterprise Sector In Latin America: An Intergrating Framework, Jaime Ortiz Sep 2001

Rethinking The Approach To The Microenterprise Sector In Latin America: An Intergrating Framework, Jaime Ortiz

Journal of Microfinance / ESR Review

Unavoidable macroeconomic adjustment policies have exacerbated social inequalities in Latin America. As a result, electoral platforms have identified microenterprises as an alternative economic activity to help alleviate poverty. Pursuing an efficient microentrepreneurial base requires from governments a comprehensive package of both financing and training strategies. Conversely, microentrepreneurs require a better understanding of their activity in order to set forward arguments that will allow them to enhance their management practices. Government policies towards the microenterprise sector should create favorable conditions conducive to the establishment and operation of financial institutions as well as specialized nongovernmental organizations providing training and consulting. Within that …

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Vol. 03 No. 2 Journal Of Microfinance, Journal Of Microfinance Sep 2001

Vol. 03 No. 2 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

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Microcredit And The Rural Poor: A Review Of The Maharashtra Rural Credit Project, Raghav Gaiha Sep 2001

Microcredit And The Rural Poor: A Review Of The Maharashtra Rural Credit Project, Raghav Gaiha

Journal of Microfinance / ESR Review

An attempt is made to review the Maharashtra Rural Credit Project (MRCP)--a microcredit scheme--by focusing on the process of implementation and its implications for targeting, empowerment of women, and trade-off between coverage of the poorest and sustainability of this scheme. Attention is drawn to deficiencies in the design and implementation of this scheme that limit the participation of the poorest and the benefits accruing to them. Moreover, it is argued that there is a risk of overstating the trade-off between the coverage of the poorest and sustainability of the MRCP if these deficiencies are overlooked.

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Do Crime-Related Expenditures Crowd Out Higher Education Expenditures?, Michael L. Marlow, Alden F. Shiers Sep 2001

Do Crime-Related Expenditures Crowd Out Higher Education Expenditures?, Michael L. Marlow, Alden F. Shiers

Economics

Fears about insufficient public education spending are often expressed in the area of higher education, whereby it is often argued that increases in expenditures on crime-related programs crowd out expenditures on higher education. This view suggests that higher education and crime-related programs directly compete for government expenditures so that what one program gains the other must lose as in a zero-sum game. A competing hypothesis is that higher crime-related spending leads to higher taxes or public debt issuance or to lower spending on programs other than higher education. We estimate a three-equation model of spending on crime-related programs, spending on …

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Trade, Growth And Information Technology: Potential For Egypt's Regional And Global Integration, Nagla Rizk Sep 2001

Trade, Growth And Information Technology: Potential For Egypt's Regional And Global Integration, Nagla Rizk

Topics in Middle Eastern and North African Economies

No abstract provided.

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Does An Exchange-Rate-Based Stabilization Programme Help For Disinflation In Turkey?, Oner Guncavdi, Benan Zeki Orbay Sep 2001

Does An Exchange-Rate-Based Stabilization Programme Help For Disinflation In Turkey?, Oner Guncavdi, Benan Zeki Orbay

Topics in Middle Eastern and North African Economies

No abstract provided.

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Simulation Of Risks And Benefits From A Money Purchase Pension Scheme For Turkey, Serdar Sayan, Ahmet Tuncay Teksoz Sep 2001

Simulation Of Risks And Benefits From A Money Purchase Pension Scheme For Turkey, Serdar Sayan, Ahmet Tuncay Teksoz

Topics in Middle Eastern and North African Economies

No abstract provided.

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Policy And Progress In Moroccan Agriculture: A Retrospective And Perspective, Channing Arndt, Wallace E. Tyner Sep 2001

Policy And Progress In Moroccan Agriculture: A Retrospective And Perspective, Channing Arndt, Wallace E. Tyner

Topics in Middle Eastern and North African Economies

No abstract provided.

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Inflation And Output Growth In Turkey, 1963-1999, Tevfik F. Nas, Mark J. Perry Sep 2001

Inflation And Output Growth In Turkey, 1963-1999, Tevfik F. Nas, Mark J. Perry

Topics in Middle Eastern and North African Economies

No abstract provided.

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Emerging Markets And Volatility Of Real Exchange Rates: The Turkish Case, Saziye Gazioglu Sep 2001

Emerging Markets And Volatility Of Real Exchange Rates: The Turkish Case, Saziye Gazioglu

Topics in Middle Eastern and North African Economies

No abstract provided.

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Country Concentration Of Turkish Exports And Imports Over Time, Guzin Erlat Sep 2001

Country Concentration Of Turkish Exports And Imports Over Time, Guzin Erlat

Topics in Middle Eastern and North African Economies

No abstract provided.

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Incentive-Based Regulations And Bank Restructuring In Egypt, Alaa El-Shazly Sep 2001

Incentive-Based Regulations And Bank Restructuring In Egypt, Alaa El-Shazly

Topics in Middle Eastern and North African Economies

No abstract provided.

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The Hypothetical Even-Share Scenario, Dennis L. Soden Sep 2001

The Hypothetical Even-Share Scenario, Dennis L. Soden

IPED Technical Reports

No abstract provided.

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Trade And Dependence: Essays On The Indian Economy By Sunanda Sen, New Delhi: Sage Publications, 2000., Pranab Mukhopadhyay Sep 2001

Trade And Dependence: Essays On The Indian Economy By Sunanda Sen, New Delhi: Sage Publications, 2000., Pranab Mukhopadhyay

IIMB Management Review

No abstract provided.

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Pension Reform In Latin America And Its Lessons For International Policymakers By Tapen Sinha Kluwer, Boston: Academic Publishers, 2000., Mukul G Asher Sep 2001

Pension Reform In Latin America And Its Lessons For International Policymakers By Tapen Sinha Kluwer, Boston: Academic Publishers, 2000., Mukul G Asher

IIMB Management Review

No abstract provided.

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Framework For Internet Banking Security, Jai Ganesh, T R Madanmohan Sep 2001

Framework For Internet Banking Security, Jai Ganesh, T R Madanmohan

IIMB Management Review

The way customers are using financial services is changing rapidly. Today’s financial services are characterised by individuality, mobility, independence of place and time, and flexibility. The Internet, based on client server technology, has facilitated this change. Financial services companies are using the Internet as a new distribution channel, offering complex products at lower transaction costs to more potential customers. This also allows customers to access the service from any part of the world at any time, which they are doing through a range of intelligent information access and processing devices which include PDAs and mobile phones. Financial institutions can use …

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Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker Sep 2001

Financial Performance Of Selected Microfinance Institutions: Benchmarking Progress To Sustainability, Michael Tucker

Journal of Microfinance / ESR Review

A few microfinance institutions (MFIs) have implemented best business practices and made the transition to fully regulated financial institutions. Many more are in the process of undertaking this transformation or at least considering it. Rising competition among growing numbers of MFIs for both funding and clients has made improved financial performance a necessity for most if not all MFIs. Financial ratios of 17 Latin American MFIs are compared to benchmark performance ratios for the industry and with commercial Latin American banks. This small sample of data, while useful, also underlines the need for more widespread MFI reporting. Complicating reliance on …

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Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla Sep 2001

Book Review: Women And Microcredit In Rural Bangladesh By Aminur Rahman, Asif Dowla

Journal of Microfinance / ESR Review

No abstract provided.

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Information Structures In Optimal Auctions, Dirk Bergemann, Martin Pesendorfer Sep 2001

Information Structures In Optimal Auctions, Dirk Bergemann, Martin Pesendorfer

Cowles Foundation Discussion Papers

A seller wishes to sell an object to one of multiple bidders. The valuations of the bidders are privately known. We consider the joint design problem in which the seller can decide the accuracy by which bidders learn their valuation and to whom to sell at what price. We establish that optimal information structures in an optimal auction exhibit a number of properties: (i) information structures can be represented by monotone partitions, (ii) the cardinality of each partition is finite, (iii) the partitions are asymmetric across agents. These properties imply that the optimal selling strategy of a seller can be …

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A Cusum Test For Cointegration Using Regression Residuals, Zhijie Xiao, Peter C.B. Phillips Sep 2001

A Cusum Test For Cointegration Using Regression Residuals, Zhijie Xiao, Peter C.B. Phillips

Cowles Foundation Discussion Papers

We show that the conventional CUSUM test for structural change can be applied to cointegrating regression residuals leading to a consistent residual based test for the null hypothesis of cointegration. The proposed tests are semiparametric and utilize fully modified residuals to correct for endogeneity and serial correlation and to scale out nuisance parameters. The limit distribution of the test is derived under both the null and the alternative hypothesis. The tests are easy to use and are found to perform quite well in a Monte Carlo experiment.

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Fully Nonparametric Estimation Of Scalar Diffusion Models, Federico M. Bandi, Peter C.B. Phillips Sep 2001

Fully Nonparametric Estimation Of Scalar Diffusion Models, Federico M. Bandi, Peter C.B. Phillips

Cowles Foundation Discussion Papers

We propose a functional estimation procedure for homogeneous stochastic differential equations based on a discrete sample of observations and with minimal requirements on the data generating process. We show how to identify the drift and diffusion function in situations where one or the other function is considered a nuisance parameter. The asymptotic behavior of the estimators is examined as the observation frequency increases and as the time span lengthens (that is, we implement both infill and long span asymptotics). We prove consistency and convergence to mixtures of normal laws, where the mixing variates depend on the chronological local time of …

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Egalitarianism Against The Veil Of Ignorance, John E. Roemer Sep 2001

Egalitarianism Against The Veil Of Ignorance, John E. Roemer

Cowles Foundation Discussion Papers

J. Rawls and R. Dworkin have each used veils of ignorance to justify equality (Rawls) or to compute what equality entails (Dworkin). J. Harsanyi has also derived a distributive ethic from a veil of ignorance argument, which, although not egalitarian, is believed by Harsanyi to be not excessively inegalitarian. Harsanyi’s analysis does not determine a unique social choice function, but rather a family of such functions. Here, by appending more information to Harsanyi’s environment, and an Axiom of Neutrality, I uniquely determine a social welfare function by extending Harsanyi’s argument. I show that this function is strongly inegalitarian, in that …

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Bootstrapping Spurious Regression, Peter C.B. Phillips Sep 2001

Bootstrapping Spurious Regression, Peter C.B. Phillips

Cowles Foundation Discussion Papers

The bootstrap is shown to be inconsistent in spurious regression. The failure of the bootstrap is spectacular in that the bootstrap effectively turns a spurious regression into a cointegrating regression. In particular, the serial correlation coefficient of the residuals in the bootstrap regression does not converge to unity, so the bootstrap is not even first order consistent. The block bootstrap serial correlation coefficient does converge to unity and is therefore first order consistent, but has a slower rate of convergence and a different limit distribution from that of the sample data serial correlation coefficient. The analysis covers spurious regressions involving …

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The Equity Premium Consensus Forecast Revisited, Ivo Welch Sep 2001

The Equity Premium Consensus Forecast Revisited, Ivo Welch

Cowles Foundation Discussion Papers

A seller wishes to sell an object to one of multiple bidders. The valuations of the bidders are privately known. We consider the joint design problem in which the seller can decide the accuracy by which bidders learn their valuation and to whom to sell at what price. We establish that optimal information structures in an optimal auction exhibit a number of properties: (i) information structures can be represented by monotone partitions, (ii) the cardinality of each partition is finite, (iii) the partitions are asymmetric across agents. These properties imply that the optimal selling strategy of a seller can be …

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What We Owe Our Children, They Their Children, ..., John E. Roemer, Roberto Veneziani Sep 2001

What We Owe Our Children, They Their Children, ..., John E. Roemer, Roberto Veneziani

Cowles Foundation Discussion Papers

Egalitarian theorists, since Rawls, have in the main advocated equalizing some objective measure of individual well-being, such as primary goods, functioning, or resources, rather than subjective welfare. This discussion, however, has assumed, implicitly, a static environment. By analyzing a society that survives for many generations, we demonstrate that equality of opportunity for some objective condition is incompatible with human development over time. We argue that this incompatibility can be resolved by equalizing opportunities for welfare. Thus, ‘subjectivism’ seems necessary if we are to hope for a society which can both equalize opportunities and support the development of human capacity over …

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Value And Politics, John E. Roemer Sep 2001

Value And Politics, John E. Roemer

Cowles Foundation Discussion Papers

A brief, historical review of the study of the interdependency between politics and economic distribution is offered. While the impact of economic interests on politics has been acknowledged for thousands of years, and the impact of politics on distribution for hundreds, it is only in the last thirty years that formal models of the interdependency between economic distribution and politics have been formulated. A general model of political-economic equilibrium is proposed, in which political competition and economic distribution jointly determine each other. Several examples are given. The author proposes that political economy, conceived of as studying this process of joint …

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Nonlinear Instrumental Variable Estimation Of Autoregression, Peter C.B. Phillips, Joon Y. Park, Yoosoon Chang Sep 2001

Nonlinear Instrumental Variable Estimation Of Autoregression, Peter C.B. Phillips, Joon Y. Park, Yoosoon Chang

Cowles Foundation Discussion Papers

Instrumental variable (IV) estimation methods that allow for certain nonlinear functions of the data as instruments are studied. The context of the discussion is the simple unit root model where certain advantages to the use of nonlinear instruments are revealed. In particular, certain classes of IV estimators and associated t -tests are shown to have simpler (standard) limit theory in contrast to the least squares estimator, providing an opportunity for the study of optimal estimation in certain IV classes and furnishing tests and confidence intervals that allow for unit root and stationary alternatives. The Cauchy estimator studied in recent work …

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Economy And Organization: Indian Institutions Under The Neoliberal Regime Edited By Amiya Kumar Bagchi, New Delhi: Sage Publications, 1999., Subhashish Gupta Sep 2001

Economy And Organization: Indian Institutions Under The Neoliberal Regime Edited By Amiya Kumar Bagchi, New Delhi: Sage Publications, 1999., Subhashish Gupta

IIMB Management Review

No abstract provided.

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Institutional And Other Constraints To Non-Oil Exports., R. O. Madaki Sep 2001

Institutional And Other Constraints To Non-Oil Exports., R. O. Madaki

Bullion

This paper examines the non-oil exports sector in Nigeria which had witnessed a lacklustre performance despite the several statements of government's interest in export-biased growth strategy and the establishment of several export facilitating institutions. The paper further observes that a major problem with Nigeria's non-oil export sector is that it is not predicated on the design and implementation of appropriate and coherent economic policies as there is no clear export promotion blue print in Nigeria. Consequently, the sector is facing a number of institutional and other domestic and external problems. The remaining part of the paper briefly highlight some of …

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