The present paper documents that political stability is positively associated with the extent of domestic trade. In explaining this reg- ularity, we provide a model where political cohesion is linked to the emergence of a fully functioning market economy. Without market ex- change, the welfare...

Since the transition to agricultural production, property rights to land have been a key institution for economic development. Clearly defined land rights provide economic agents with increased access to credit, secure returns on investment, free up resources used to defend one's land rights,...

In this report, we focus on the Sustainable Development Goal (SDG) target 8.1, stipulating that countries should pursue real GDP per capita growth rates that are in accordance with their national circumstances and that total GDP should grow by more than seven percent a year in the least...