This paper analyzes the effects of trade openness on budget balances by distinguishing the effects of natural openness from those of trade-policy induced openness. Using the GMMsystem estimator, the econometric analysis focuses on 66 developing countries during 1974-98. The results show that...

Recent work draws attention to the fragility of domestic tax revenues-a vital resource for the developing world-to illicit financial flows. To cope with two major challenges in the illicit financial flows-tax revenues relationship-related to the mere illicit financial flows measurement and...

This paper investigates the impact of political leaders' migration experience on the quality of their leadership. We build up an original database on the personal background of 932 politicians who were at the head of the executive power in a developing country over the 1960-2004 period. We put...

Over the past two decades, many countries have passed legislation giving more independence to their central banks. This institutional evolution has concerned several developed countries but also developing countries and, is consistent with the Barro and Gordon's theory of time-inconsistent...

This paper analyzes the effects of trade openness on budget balances by distinguishing the effects of natural openness from those of trade-policy induced openness. Using the GMMsystem estimator, the econometric analysis focuses on 66 developing countries during 1974-98. The results show that...