If the only solution tried for customs corruption and evasion in a developing country is to outsource certain customs functions to a pre-shipment inspection (PSI) company, PSI will prove more of a fiscal burden than a panacea. PSI works best in countries where the customs service already...

The authors assess three established theories about the historical determinants of financial development. They also propose an augmented version of one of these theories. The law and finance view, stresses that different legal traditions emphasize, to differing degrees, the rights of individual...