This paper investigates bond issuance of non-financial corporations in advanced economies during the period 1999-2003, attempting to understand motives for issuing in foreign currency, and determinants for the choice of currency. We consider the following influences on the currency choice when...

A self-enforcing monetary constitution has rules that agents acting within the system will uphold even in the presence of deviations from ideal knowledge and complete benevolence. It thus does not require external enforcement. What would such a constitution look like? I show that two regimes—a...

This learning product reviews the extent to which political economy analysis (PEA) is used to improve the design of development policy operations (DPOs) and how effective it has been. Although the World Bank's mandate explicitly precludes it from engaging in politics, an understanding of the...

В статье анализируются перспективы развития сообщества ученых-институционалистов на постсоветском пространстве. Выделяются сравнительные преимущества...