Keefer reviews progress made in understanding the effects of different dimensions of governance on economic development, and the sources of quot;good governance.quot; The term governance has been used to embrace concepts that are heterogeneous both with respect to their effects on economic...

The existing literature emphasizes and contrasts the role of political checks and balances and legal origin in determining the pace of financial sector development. This paper expands substantially on one aspect of this debate: the fact that government actions that promote financial sector...

Keefer proposes a new approach to explain why the costs of crisis are greater in some countries than in others. He begins with the premise that many crises result from the willingness of politicians to cater to special interests at the expense of broad social interests. A parsimonious model...

Government responses to banking crises are less likely to favor special interest groups when elections are near, voters are better informed about the costs of inefficient government decisions, and governments have multiple veto players.Keefer investigates the political determinants of government...

We use a "natural experiment” in media markets in Benin to examine the impact of community radio on government responsiveness to citizens. Contrary to prior research on the impact of mass media, in this experiment government agents do not provide greater benefits to citizens whose exposure to...

When in 2001 Joseph Stiglitz won the Nobel Memorial Prize in economic sciences, along with two other economists, many rejoiced that market imperfections were at last getting some recognition. But Stiglitz's recent reputation has most to do with his rebellious attitudes at the World Bank. The...

This economist argues that the multilateral talks have for too long been stacked against the developing countries. For negotiations to continue, the developed states must concede that developing countries have a right to protect infant industries and that the negotiating process needs an...