Micro and small enterprises (MSEs) in developing countries are typically considered to be severely credit constrained. Additionally, high business risks may partly explain why the capital stocks of MSEs remain low. This article analyzes the determinants of the capital stocks of MSEs in poor economies focusing on credit constraints and risk. The analysis is based o...

Many factors innuence a learning process and the performance of a learned classiier. In this paper we investigate the eeects of class distribution in the training set on performance. We also study diierent methods of measuring performance based on cost models and the performance eeects of training class distribution with respect to the diierent cost models. Observations from these eeects help u...

Many factors innuence a learning process and the performance of a learned classiier. In this paper we investigate the performance eeects of class distribution in the training set. We also study diierent methods of measuring performance based on cost models and the performance eeects of training class distribution with respect to the diierent cost models. Observations from these eeects help us d...

It is now common in the institutional economics literature to define institutions in the very general sense of rules of structured social interaction. In any society there is, of course, a plethora of such rules (including those that undergird even a so-called free market economy). In the context of economic development the focus is on those rules that act as a substitute for missing markets in...

Household debt levels have increased substantially over the last decade, both in terms of the total amount outstanding and relative to incomes. At the same time, household debt portfolios became more diversified. While such qualitative observations apply to many OECD countries, the betweencountry differences remain very stark and are empirically more important than changes over time within any ...