Now showing items 1-10 of 10
Cross-Border Target Selection and Investor Protection Disparity
(2009-09-10)
Underperforming firms in emerging markets have little access to foreign capital is a well-documented but little understood phenomenon. I argue that this phenomenon is due to the gap in the strength of investor protection ...
Self-Employment in Household Enterprises and Access to Credit: Gender Differences during India’s Rural Banking Reform
(2009-09-10)
This study uses use four cross sections of household survey data collected by India’s National Sample Survey Organization between 1983 and 2000 to examine the role of credit in encouraging small-scale entrepreneurship among ...
The Distributive Impact of Reforms in Credit Enforcement: Evidence from Indian Debt Recovery Tribunals
(2009-09-10)
It is generally presumed that strengthening legal enforcement of lender rights increases credit access for all borrowers, by expanding the set of incentive compatible loan contracts. This is based on an implicit
assumption ...
Prospect Theory and Market Liquidity
(2009-09-10)
We study equilibrium trading strategies, market liquidity, and price efficiency in an economy in which a fraction of better-informed speculators displays preferences consistent with Kahneman and Tversky’s (1979) Prospect ...
Structural Economic Change and Foreign Acquisition
(2009-09-10)
In this paper, I study how structural economic change affects the relative benefits of foreign and domestic ownership in emerging markets. The central thesis is that rapid change (a structural economic shock) makes many ...
Firms’ Exporting Behavior under Quality Constraints
(2009-11-24)
We develop a model of international trade with export quality requirements and two dimensions of firm heterogeneity. In addition to "productivity", firms are also heterogeneous in their "caliber" — the ability to produce ...
Economic Effects of “Leveling the Playing Field” in International Trade
(2009-09-10)
This paper uses simple economic theory to examine the effects of various policies that are intended to level the playing field in international trade. That is, when foreign producers are given advantages over domestic ...
Foreign Ownership and Firm Performance: Emerging-Market Acquisitions in the United States
(2009-09-10)
This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow ...