The existing theoretical analysis of micro…nance focuses on the nature of the loan contract such as group liability. We draw attention to the role of missing or imperfect labor market in understanding some of the important ‘second generation’debates in micro…nance. Our analysis helps explain a number puzzles in micro…nance such as (i) high repayment rates with high interest rates, (ii) di¢ cult...

Page Introduction ........................................................................................................................41 The capability approach: conceptual roots .........................................................................43 Commodities, functionings and capability..........................................................................43 Utilitarian calculus ...

UNLABELLED BACKGROUND The health and well-being of widows in India is an important but neglected issue of public health and women's rights. We investigate the lives of Indian women as they become widows, focussing on the causes of their husband's mortality and the ensuing consequences of these causes on their own lives and identify the opportunities and challenges that widows face in living ...

In this paper, we present evidence that firms with concentrated ownership manage earnings when their large shareholders have an incentive to do so. The large shareholders of Chinese public firms often pledge their shares for loans. Before the split share reform in 2006, loan terms were based on the book value of the firm. Since then, the share price has become critical for share pledged loans. ...

The paper presents ab abstract definition of linear inequality concepts leading to linearly invariant measures and characterizes the class of linear concepts completely. Two general methods of deriving ethical measures are proposed. They imply an Atkinson-Kolm-Sen index and a new dual index reflecting the inequality of living standard. Then all separable social welfare orderings which generate ...

It is well known that the ordinary least squares (OLS) regression estimator is not robust. Many robust regression estimators have been proposed and inferential methods based on these estimators have been derived. However, for two independent groups, let θj (X) be some conditional measure of location for the jth group, given X, based on some robust regression estimator. An issue that has not bee...

The relationship between poverty and mental health is indisputable. However, to have an influence on the next set of sustainable global development goals, we need to understand the causal relationships between social determinants such as poverty, inequality, lack of education and unemployment; thereby clarifying which aspects of poverty are the key drivers of mental illness. Some of the major c...

Sen’s libertarian paradox is ascribed to the inevitable conflict between the Pareto criterion and individuals’ rights to create negative externalities. Finite coalitions can effect exchanges of rights through Coaseian bargains in order to resolve inefficiencies due to local externalities. With a continuum of agents, however, finite coalitions are powerless to affect widespread externalities, ex...

In this study, using the energy momentum definitions of Einstein, Møller, Bergmann-Thomson, Landau-Lifshitz and Papapetrou we compute the total energy-momentum distribution (due to matter and fields including gravitation) of the universe based on general Bianchi type I-III-V-V I0 spacetime and its transforms type I, III, V, V I0 metrics, respectively. The energy-momentum densities are found exa...

Institute of Hypertension, Zhongshan School of Medicine, Sun Yat-sen 8 University, Guangzhou, China 510080 9 Department of Orthopedics, The 5 Affiliated Hospital, Sun Yat-sen University, 10 Zhuhai, China 519000 11 Department of Medicine, Division of Hypertension and Renal Diseases, 12 University of Colorado Denver, Aurora, CO, USA 80010 13 Department of Medicine, Division of Renal Diseases and ...