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| Giugale, Marcelo M.; El-Diwany, Sherif. |
| The paper shows how, when the enforceability of regulations is size-sensitive, price competition can lock firms into informality and, thus, smallness, depending on the form of the production function. In that context, exogenours "help"packages targeted to informal firms "promote" micro and small enterprises (i.e., increase their numbers) but do not "develop" them (i.e., foster their growth). The "help" only generates a short-term span of abnormal profits for existing informal firms, and a long-term income transfer toward informal-market consumers. The model is tested in the context of Egypt's micro and small enterprise sector. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Informality; Size Regulation; Egypt; Hide-Outs; Agricultural and Food Policy; O17; L11; L51. |
| Ano: 1997 |
URL: http://purl.umn.edu/18542 |
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| Faulk, Dagney; Giugale, Marcelo M.. |
| The paper reports on an analytical comparison between the foreign debt build-up that preceded the 1982 debt crisis in Latin America and the current debt accumulation process taking place in Eastern Europe. In the whole, Eastern Europe's debt position seems more sustainable than Latin America's in the early 1980s. While the former is equally indebted and shows higher country concentration (around Russia), greater potential for fiscal impact, and no superior macroeconomic environment, its debts are less globally significant, have better repayment terms, are supported by better repayment capacities (in turn due to larger trade openness and virtually no capital flights), and are accumulating at a slower pace in a much more favorable international economic... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Financial Economics; F34; G15. |
| Ano: 1997 |
URL: http://purl.umn.edu/18428 |
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