The initial impact of the Asian financial crisis in Malaysia reduced the expected value of government subsidies to politically favored firms. Of the estimated $60 billion loss in market value for politically connected firms from July 1997 to August 1998, roughly 9% can be attributed to the fall...

This paper develops a theory of political behavior in which moral values are a luxury good: the relative weight that voters place on moral rather than material considerations increases in income. This idea both generates new testable implications and ties together a broad set of empirical...

There are two common views of pork barrel spending. One is that pork barrel spending benefits special interests at the expense of social welfare, hence antithetical to responsible policymaking, especially in times of crisis. An alternative is that pork “greases the legislative wheels” making...

"Varias causas explican la tremenda corrupción de la vida política que padece México. Una son los gremios medievales que ocupan la presidencia: los presidentes generales, los licenciados en derecho, los posgraduados en las universidades de los EE.UU., cuyo principio es el libertinaje...