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Profits vs. impact: what can microfinance teach us?

How can the private sector work for development? This paper provides answers to this question from the firms’ perspective by examining the trade-offs that private firms face between maximizing their profits and achieving a positive social impact. In particular, it considers the experience of microfinance as the best available data source from the point of view of a firm engaged in...

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English / 17/05/2013

External shocks, internal shots : the geography of civil conflicts

This paper uses detailed information on the latitude and longitude of conflict events within a set of Sub-Saharan African countries to study the impact of external income shocks on the likelihood of violence. We consider a number of external demand shocks faced by the country or the regions within countries - changes in the world demand of agricultural commodities, financial crises...

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Français, English / 19/11/2012

Conflicts of interest, reputation, and the interwar debt crisis: banksters or bad luck?

This paper builds a new dataset with detailed information on the universe of foreign government bonds issued in New York in the 1920s and uses these data to describe the behavior of the financial intermediaries which operated in the New York market during the period leading to the interwar debt crisis. The paper starts by showing that concerns over reputation played an important role...

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Français, English / 18/10/2012

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