The lack of access to formal credit at affordable cost (effective interest) is the most critical constraint faced by the rural entrepreneurs to get involved in productive profitable business activities. This study explores the causes behind the widespread existence of informal credits as investment capital for small house-based business. Based on a primary survey on house based industrial owner...

The argument for the privatization of state enterprises is based on the superior efficiency of private over state ownership. This argument is only true when it ignores the institutional constraints including insecure property rights enforcement, land, credit, and export-quota policies. By using a survey of ninety-six textile-garment enterprises in Vietnam, private and foreign enterprises were f...

This paper examines the changing role and broadening goals of international agricultural research centers (IARCs), focusing on their evaluation mechanisms and priority setting processes. The case of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) is used to identify the relative importance of outputs. It was found that, for IARCs, a wider range of credit items sho...

This paper investigates whether information asymmetry affects corporate bond credit spreads. To gauge the extent of information asymmetry, we use decomposed equity institutional ownership based on the past investment and trading styles (Bushee(1998, 2001)). First, we detect that different institutional groups are associated with firms with varying degrees of information asymmetry. Moreover, we ...

The colonial experience of developing countries provides valuable evidence regarding the impact of legal and institutional innovations on economic growth. However, there has been little effort by economists to study colonial policies to gain theoretical insights into the process of institutional reform. This paper considers the introduction of civil courts in colonial India and its impact on ag...

The study has looked into the institutional credit in relation with agricultural productivity in Jammu & Kashmir. The results have revealed that although the credit deployment of scheduled commercial banks (SCBs) to agriculture has increased in absolute terms, its percentage share in the total credit outstanding has declined sharply. The intensity of agricultural credit has also declined over t...

The credit guarantee system for small and medium enterprises (SMEs, here in after) has been established for more than 10 years in China. There are so many problems resulting in low-effective operation of the credit guarantee system, such as the risks share and amplification multiple of guarantee determined by financial institutions and guarantee organization to reasonably are unreasonable. Aimi...