[This paper reexamines the question of the India's growth takeoff using newer data and time series analysis. By carefully accounting for structural breaks and stationarity issues and using a longer times series, we address the lacuna in previous econometric investigations into the Indian...

Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the first oil shock (1973), but accelerated again afterward, reaching levels above 100 percent on average between 1980 and 1994. This last period coincided with severe balance of...

Development economists have found evidence that an abundance in natural resources hinders economic growth, contrary to conventional expectations. This finding is called the resource curse hypothesis. The major questions this paper addresses are: does the resource curse hypothesis apply to...

In 2017, Russia's regions saw their socioeconomic status improve marginally over 2016. Industrial sectors continued to increase in most of the regions, as investment rose in half of the regions. The unemployment rate continued to below. However, personal incomes and residential construction...

Africa's interior-to-coast roads are well suited to export natural resources, but not to support regional trade. Are they the optimal response to geography and comparative advantage, or the result of suboptimal political distortions? We investigate the political determinants of road paving in...

Economic growth occurs as resources are reallocated from the traditional sector to the more productive modern sector. Yet, the latter is more vulnerable to political predation. Hence, political risk hinders development. We analyze a politico-economic game between citizens and governments, whose...

Africa's interior-to-coast roads are well suited to export natural resources, but not to support regional trade. Are they the optimal response to geography and comparative advantage, or the result of suboptimal political distortions? We investigate the political determinants of road paving in...

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Voting rights were initially limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development, as this new electorate has lower financial holdings and benefits less from the riskiness...

This paper presents an empirical examination of economic and institutional development. Utilizing a novel data set on American Indian tribal nations, we investigate how constitutional design affects economic development, while holding the broader legal and political environment fixed....