Finance, growth, and public policy

Development economists have long argued that modern financial markets are important to growth and that financial repression is a serious obstacle to progress in many developing countries. The authors consider the relationship between finance and growth and the appropriate role of government policy. Many economists have stressed how problems of asymmetric information and contract enforcement impede the functioning of financial markets in developing countries. In addition, they try to elaborate on these theories to make them relevant to policymakers. Information gaps and enforcement frictions introduce a premium in the cost of external funds. Factors such as the borrower's financial health, the efficiency of financial intermediation, and the ease of enforcing private financial contracts govern the size of this premium. How financial factors contribute to development may be understood along these lines. Financial contracts and institutions should be designed to minimize this premium.Banks&Banking Reform,Financial Intermediation,Environmental Economics&Policies,Economic Theory&Research,Health Economics&Finance

Housework and childcare in Italy: a persistent case of gender inequality

This article focuses on the gender gap in housework and childcare in Italian couples. Italian women still carry out three-quarters of domestic work and two-thirds of childcare. We focus on three possible theoretical explanations for the persistence of the gendered division of labor: time availability, relative resources, and conformity with traditional gender ideology. Time Use data from the 2008/09 Survey edition have been used: we considered couples, married or in consensual unions, with at least one child under 14 years of age and with the mother employed

Homing and site fidelity in the greasy grouper Epinephelus tauvina (Serranidae) within a marine protected area in coastal Kenya

Homing ability and site-fidelity in the greasy grouper Epinephelus tauvina (Serranidae) were studied at Malindi Marine Park (6.3 km2), coastal Kenya, from January to April 2002 using acoustic telemetry. Displacement experiments involving 12 groupers (mean size 57.9 cm) from multiple capture sites resulted in a 67% homing success. Upon release at displacement sites (0.5 to 2.6 km from the point of capture), most initial movements were small-scale and non-directional. Neither the tidal range nor time of day influenced the magnitude of these daily movements. Returns to the capture sites were sudden, occurring predominantly (88%) on spring tide dates. Fish displaced at the spring tide returned to capture sites faster (8.6 d) than those displaced at the neap tide (14.3 d). Time taken to return to capture sites ranged from 4 to 19 d (mean 9.6 d) and was not correlated with distance of displacement. However, time taken for the fish to home was negatively correlated with tidal range at displacement. Home ranges established after homing (0.07 to 0.73 km2) were stable and negatively correlated with fish size, suggesting an ontogenetic shift in home range development