This paper proposes a theory in which informational failures hindering an e ¢ cient operation of the economy are solved over the course development. Individuals are heterogeneous in terms of entrepreneurial talent, exhibiting di¤erent comparative advantages. Talent is subject to private information, giving rise to adverse selec-tion problems. In this paper, adverse selection stems from sectors scarcity, which prevents some individuals from \u85nding their "appropriate " sector. The availability of many sectors facilitates the allocation of individualsunobservable talent. As a result, sectors expansion fosters growth because it helps to solve adverse selection problems. Successful long-run development is characterised by a continuo...
There are two notable phenomena widely observed when an economy departs from an underdeveloped state...
The post-war growth experiences of developing countries lead to the idea that income equality may ac...
We study market inefficiencies and policy remedies when agents choose their occupations, and entrepr...
This paper proposes a theory where adverse selection problems linked to the allo-cation of individua...
This paper presents a theory in which economic development manifests itself pri-marily as a process ...
I present a theory of development in which heterogeneously talented entrepreneurs require credit to ...
I present a theory of development in which heterogeneously talented entrepreneurs require credit to ...
This paper presents a theory in which talented entrepreneurs are identified as the key agents drivin...
This paper presents a theory in which risk-averse heterogeneously talented entrepreneurs are the key...
International audienceIn this paper, we formalize the view that economic development requires high r...
There are two phenomena widely observed when an economy departs from an underdeveloped state and sta...
An argument commonly adduced to explain differences in economic development among regions is the sca...
There are two notable phenomena widely observed when an economy departs from an underdeveloped state...
A country's most talented people typically organize production by others, so they can spread their a...
This paper proposes a model of Schumpeterian endogenous growth incorporating the role of market impe...
There are two notable phenomena widely observed when an economy departs from an underdeveloped state...
The post-war growth experiences of developing countries lead to the idea that income equality may ac...
We study market inefficiencies and policy remedies when agents choose their occupations, and entrepr...
This paper proposes a theory where adverse selection problems linked to the allo-cation of individua...
This paper presents a theory in which economic development manifests itself pri-marily as a process ...
I present a theory of development in which heterogeneously talented entrepreneurs require credit to ...
I present a theory of development in which heterogeneously talented entrepreneurs require credit to ...
This paper presents a theory in which talented entrepreneurs are identified as the key agents drivin...
This paper presents a theory in which risk-averse heterogeneously talented entrepreneurs are the key...
International audienceIn this paper, we formalize the view that economic development requires high r...
There are two phenomena widely observed when an economy departs from an underdeveloped state and sta...
An argument commonly adduced to explain differences in economic development among regions is the sca...
There are two notable phenomena widely observed when an economy departs from an underdeveloped state...
A country's most talented people typically organize production by others, so they can spread their a...
This paper proposes a model of Schumpeterian endogenous growth incorporating the role of market impe...
There are two notable phenomena widely observed when an economy departs from an underdeveloped state...
The post-war growth experiences of developing countries lead to the idea that income equality may ac...
We study market inefficiencies and policy remedies when agents choose their occupations, and entrepr...