This paper proposes a dynamic politico-economic theory of debt, government finance and expenditure. Agents have … consumption, the less debt is accumulates. We extend the analysis to redistributive policies and political shocks. The theory …

This paper proposes a dynamic politico-economic theory of debt, government finance and expenditure. Agents have … shocks. Consistent with the empirical evidence, our theory predicts governement debt to be mean reverting and debt growth to …

Widening income disparities, higher corruption and larger informality in many emerging market and developing economies … America, while more informality increases the probability of their occurrence, corruption decreases it. In turn, when …

evaluates these competing paradigms achieving three end results. First, it synthesizes the standard economic theory on this …

We investigate the relationship between corruption and political stability, from both theoretical and empirical …-shaped relationship between total corruption and stability. On the empirical side, we find a robust U-shaped pattern between country … indices of corruption perception and various measures of incumbent stability, including historically-observed average tenures …