the study was designed to analyze credit receipt and enterprise performance by small scale agro based enterprises in the niger delta region of nigeria. a multistage sampling technique was adopted in selecting 264 agro based enterprises and 96 agro based enterprises that accessed informal and formal credit respectively. the heckman model was used to examine the factors affecting amount of inform...

Based on data from a 2005 survey conducted in Shanghai, China, this research examines the role of social capital in income inequality between rural migrants and urbanites. We find strong income return on social capital, in particular on social capital from strong ties. We also observe a great disparity in social capital possession between rural migrants and urban local residents. Although socia...

This paper shows that in a one-sector real business cycle model with strong increasing returns in production, progressive taxation of labor income can stabilize the economy against sunspot ‡uctuations, even when the capital tax schedule is ‡at. This result is consistent with the U.S. tax code in which labor-income taxation is more progressive than capital-income taxation.

This paper analyzes the interaction between intergenerational wealth transmission, human capital investments under uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It demonstrates how the role of the personal income distribution for an economy’s process of development through risky human capital accumulation depends on...

Timing of reproduction in a seasonal cycle is a life history trait with important fitness consequences. Capital breeders produce offspring from stored resources and, by decoupling feeding and reproduction, may bend the constraints caused by seasonality in food or predation. Income breeders, on the other hand, produce offspring from concurrent food intake, with the disadvantage of less flexibili...

Lifetime income is a widely used concept in both positive and normative analysis. The definition of this concept is examined in the context of income uncertainty, capital market imperfections, and uncertainty about length of life. Two alternative, comprehensive definitions are provided and discussed. The implications for the distribution of economic well-being of various age-income profiles and...

Small farms and smallholder farming systems play crucial roles in agricultural development in many developing countries. From the various rural development programs designed to support such farming systems, agricultural extension services are of at most importance. However, the benefit that farmers obtain from these services and the resulting impact depends, to a great extent, by their direct a...

Insufficient access to assets is the main determinant of poverty. We analyze the role of access to assets in explaining household labor allocation strategies, sources of income, levels of income achieved, and poverty headcount ratios among classes of Mexican rural households. To assess the gains from asset redistribution, we both measure the direct income effects from redistribution and simulat...

Abstract T he return of capital is fundamental to the intertemporal allocation of resources by changing the consumption behavior and capital accumulation over time. Taxation on return of capital increases the marginal product of capital, meaning that capital stock is lower than when capital is not taxed, which results decreased growth and welfare in steady state. This pape...