Documenting the long term impact of institutions on economic performance has generated tremendous interest in the development literature. Contemporary or intermediate term effects of institutions over time are difficult to establish, however, since institutions seldom change significantly in the...

Documenting the long term impact of structural policies on economic performance has generated tremendous interest in the development literature. In contrast, contemporary effects of structural policies are difficult to establish. Structural policies seldom change sufficiently in the short run,...

Documenting the long term impact of structural policies on economic performance has generated tremendous interest in the development literature. In contrast, contemporary effects of structural policies are difficult to establish. Structural policies seldom change sufficiently in the short run,...

The ‘Stability and Growth Pact’ aims to constrain excessive fiscal deficits by member countries in the European Monetary Union. It identifies and prescribes sanctions for countries that breach the Maastricht deficit and debt ceilings. Under strong criticism for its apparent favoritism of...

Access to electricity is widely recognized as an essential element of economic development. This paper uses a comprehensive dataset on electrification aid projects to quantify and model the determinants of multilateral and bilateral electrification aid in the last three decades of the 20th...

One of the greatest challenges facing developing countries is gaining access to the capital necessary to achieve widespread electrification, and for this aid is essential. We examine the history of World Bank and other aid agencies' policies in fostering electrification around the world. A...

We examine multinationals’ optimal entry modes into foreign markets as a function of market size, FDI fixed costs, tariffs and transport costs. Our results highlight why large countries are more likely to attract acquisition investment, while intermediate-sized countries may be served...

The hallmark of the recent development and growth literature is a quest to identify institutions that explain a significant portion of the observed differences in living standards across countries. Empirical work in the area focuses almost exclusively on either the global sample or on developing...