This paper is an attempt to broaden economic discourse by importing insights into human behavior not just from psychology, but also from sociology and anthropology. Whereas the concept of the decision-maker in standard economics is the rational actor and, in early work in behavioral economics,...

How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? The authors investigate the demand for the rule of law in post-communist economies after privatization under the assumption that theft is possible, that those who have stolen assets cannot...

After long suffering from benign neglect if not outright contempt, industrial policy is almost fashionable again. The global financial and economic crisis known as the Great Recession has forced researchers and policy makers to confront the reality that market forces alone generally do not lead...

This essay is about an important area in which there has been major rethinking -- industrial policy, by which the authors mean government policies directed at affecting the economic structure of the economy. The standard argument was that markets were efficient, so there was no need for...

As the Eurozone crisis drags on, it is evident that a part of the problem lies in the architecture of debt and its liabilities within the Eurozone and, more generally, the European Union. This paper argues that a large part of the problem can be mitigated by permitting appropriately-structured...

This paper assesses the role of ideas in economic change, combining economic and historical analysis with insights from psychology, sociology and anthropology. Belief systems shape the system of categories ( "pre-confirmatory bias" ) and perceptions (confirmatory bias), and are themselves...

In Africa, evidence on the interactions among poverty, growth, and income distribution presents a puzzle: While growth has been robust in recent decades, the growth elasticity of poverty has remained low. This suggests that inequality has dampened the pro-poor effects of growth. However, when...

Ghana is an exceptional case in the Sub-Saharan Africa landscape. Together with a handful of other countries, Ghana offers the opportunity to analyze the distributional changes in the past two decades, since four comparable household surveys are available. In addition, different from many other...

Over the past two decades developing countries have seen a rapid increase in the number of women taking an active role in the labor market. While acknowledging that this is an important development outcome, this paper cautions against the possible undesired distributional effects that it can...

In many regions of the world, the persistent, and growing, proportion of young people who are currently not in employment, education, or training is of global concern. This is no less true of Morocco: about 30 percent of the Moroccan population between ages 15 and 24 are currently not in...