We present a theoretical model of moral hazard and adverse selection in an imperfectly competitive loans market that is suitable for application to Africa. The model allows for variation in both the level of contract ...

There is evidence for the long-run persistence of geographical variation in tolerance towards other ethnicities. However, existing studies of tolerance use data from countries with long-standing patterns of ethnic diversity, ...

In conventional wisdom, the reform of British copyright law during the eighteenth century brought an end to the monopoly on the sale of books held by the Stationers’ Company, and the resulting competition was one of the ...