Even efficient financial markets may break down under periods of prolonged stress, especially when the ramification of an event is unclear. Political violence is such an event, sending immediate signals about possible impact on firm valuations but unclear information about the future viability...

Project implementation at the country level relies not only on technical expertise and the soundness of a project, but on several external factors such as trust among the participating actors, political will, the absorptive capacity of a client government to actualize reform, and capacity within...