Does economic freedom cause economic growth or does causality run in the reverse direction? And do all the constituent parts of economic freedom exert a causal impact on economic growth or do some freedoms matter more than others? In order to answer these questions, this paper conducts a series...

We investigate the possible interaction effects that the extent of property rights protection and separation of powers in a political system have on economic growth. Using analysis of panel data from more than countries over the period 1970-2010 we find that the growth effects of property rights...

This article examines how economic shocks affect individual well-being in developing countries. Using the case of a sudden and unanticipated currency devaluation in Botswana as a quasi-experiment, the article examines how this monetary shock affects individuals'evaluations of well-being. This is...

The article applies Social Choice theory to analyse new and so far undiscovered aspects of the Danish referendums on the Maastricht Treaty in 1992 and 1993. The article queries whether the amended Maastricht Treaty adopted in 1993 was, in fact, the most preferred alternative for a majority of...

While extant research has focused on the causes and consequences of corruption at the macro-level, less effort has been devoted to understanding the micro-foundation of corruption. We argue that poor people are more likely to be victims of corrupt behavior by street-level bureaucrats as the poor...

Political scientists and economists increasingly agree that institutions may influence economic growth, but there is little general agreement on what institutions tend to produce what consequences. We apply public choice insights for a theoretical analysis that may be termed “Madisonian”:...

This paper analyzes why some governments protect property rights while others do not. Although institutional constraints may affect government incentives to protect property rights, the paper emphasizes that different political institutions have dissimilar effects. Coalition institutions that...