In this paper we look at the impact of broad policy reforms on the levels of corruption. We use a structural break approach to identify country specific time periods in which significant shifts in corruption levels take place. We then correlate these times of change with a set of co-variates...

What prevents majorities from extracting surplus from minorities in legislatures? We study an infinite horizon game where a legislative body votes to determine distributive policy each period. Proposals accepted by a simple majority are implemented, otherwise the status quo allocation prevails....

The global insurance industry grew at a respectable rate of 3.3 percent in 2007 up to USD 4,061 billion, which consisted of USD 2,393 billion of life insurance premiums and USD 1,668 billion of non-life premiums. The global growth in the insurance industry was fueled by growth in emerging...

As countries around the world regain their economic footing, reigniting confidence and optimism, merger and acquisition (M&A) activity is expected to rebound as well. Both practical experience and research have established that people and culture are key considerations in successful M&A...

In countries of the Gulf Cooperation Council (GCC) labour laws mandate that end-of-service benefits (ESB) be paid to employees upon leaving their employer. The rate of compensation varies from nation to nation, with many nuances and exceptions. These benefits continue to accrue as long as an...

This analysis compares the cost efficiency of Islamic and conventional insurers operating in eight countries. We analyze data collected from 32 insurers using stochastic frontier analysis, data envelope analysis and a partial frontier approach with order-alpha free disposal hull. We compare the...