In this reply we offer a response to the Mercer and Reed (2015) replication of Toya and Skidmore (2007). The replication study extends the original work in several important dimensions and is a very useful contribution. Nevertheless, we offer additional evaluation and discussion of the...

type="main" <title type="main">Summary</title> <p>In this article we investigate the relationship between disasters and societal trust. A growing body research suggests that factors such as income inequality, ethnic fractionalization and religious heritage are important determinants of social capital in general and trust in...</p>

Theoretic growth models and microeconomic evidence suggest that human capital accumulation is an important determinant of per capita income growth. However, early macroeconomic studies found a weak relationship between growth and human capital accumulation. While recent studies addressing...

In recent years, many developing countries have sought to implement more decentralized governmental systems. Despite efforts toward fiscal federalism, assessment of decentralization activity has been hampered by lack of consistent cross-country measures of effectiveness. Since governments play a...

"This paper explores how international money markets reflected credit and liquidity risks during the global financial crisis. After matching the currency denomination, we investigate how the Tokyo Interbank Offered Rate (TIBOR) was synchronized with the London Interbank Offered Rate (LIBOR)...