This article presents a new data set on electoral systems and outlines its potential uses in research on the links between electoral systems and economic outcomes. The data measure the extent to which politicians can advance their careers by appealing to narrow geographic constituencies on the...

International trade increases aggregate welfare but also creates winners and losers, which makes free trade a contentious political issue. Recent research has established that individuals are more sensitive to anti-trade information about the prospect of employment loss than to pro-trade...

Terms of trade shocks may slow growth, worsen the distribution of income, and raise the odds of highly disruptive currency crises. This note raises questions on how can countries cope with terms of trade shocks; if commodity price stabilization funds can help; and, how can the private sector...

This paper studies whether countries benefit from servicing their debts during times of widespread sovereign defaults. Colombia is typically regarded as the only large Latin American country that did not default in the 1980s. Using archival research and formal econometric estimates of Colombia's...

This paper presents a comprehensive examination of the determination and evolution of inflation expectations, with a focus on emerging market and developing economies (EMDEs). The results suggest that long-term inflation expectations in EMDEs are not as well anchored as those in advanced...

This paper examines whether political connections ease financial constraints faced by firms. Using firm-level data from six Central and Eastern European economies, the paper shows that politically connected firms: (i) have high levels of leverage, (ii) have low levels of profitability, (iii) are...

This paper revisits the link between FDI and economic growth in emerging and developing economies. Analysis of the early decades of the sample shows that there is no statistically significant correlation between FDI and growth for countries with average levels of education or financial depth. In...

This article presents a new data set on electoral systems and outlines its potential uses in research on the links between electoral systems and economic outcomes. The data measure the extent to which politicians can advance their careers by appealing to narrow geographic constituencies on the...

This article discusses the links between climate and debt sustainability by focusing on how climate mitigation and adaptation are paid for, and who pays for it. This requires thinking about instruments such as sovereign bonds, carbon credits, conditional official grants and debt relief from both...