A large group of developing countries did relatively well during the Great Recession, thanks to the broader room for countercyclical macroeconomic policies, and the world economy will continue to be more dependent on the developing world than any we have known in history.

This paper investigates the relative performance of enterprises backed by government-sponsored venture capitalists and private venture capitalists.

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Abstract

Several U.S. states enforce…

A relatively new set of financial services called “microfinance” provides what appears to be a sustainable way of supplying access to capital to the poor. This article provides a brief history of microfinance, discusses the ongoing integration of microfinance institutions into the global capital markets, and surveys the challenges that now confront these organizations in becoming sustainable enterprises with social as well as commercial objectives.

Experts George Zodrow and John Diamond explore options for Texas tax reform to raise state-level educational revenues.