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During the nineteenth century most Western societies extended voting rights, a decision that led to unprecedented redistributive programs. We argue that these political reforms can be viewed as strategic decisions by the political elite to prevent widespread social unrest and revolution. Political transition, rather than redistribution under existing(More)
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This paper critically examines the way in which empirical evidence is developed in support of a role for social capital in socioeconomic outcomes. Three leading studies of social capital are reviewed and in each case argued to suffer from various identification problems. A general set of conditions under which social capital effects may be identified in(More)
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The classic narrative of economic development-poor countries are caught in poverty traps, out of which they need a Big Push involving increased investment, leading to a takeoff in per capita income-has been very influential in foreign aid debates since the 1950s. This was the original justification for foreign aid. The narrative lost credibility for a while(More)
This paper provides a set of results on the econometric identifiability of binary choice models with social interactions. Our analysis moves beyond parametric identification results that have been obtained in the literature to consider the identifiability of model parameters when the distribution of random payoff terms is unknown. Further, we consider how(More)
This paper has two purposes. One is to assess different models of inventory behavior in terms of their ability to approximate the realized data. We do this initially for the pure production smoothing model and then for a sequence of generalizations. Our analysis both performs specification tests as well as measures the deviations of the data from each null(More)