Agriculture is a main source of environmental degradation and biodiversity decline. We investigate the causal effects of culture on pro-environmental behaviors of the agricultural population (farmers), and how policy instruments interact with culture to influence individual behavior. We exploit...

Using limitations to the deductibility of interest payments triggered by the introduction of interest ceiling rules globally, we show that affected private firms reduce leverage relative to unaffected firms. In support of a causal effect of taxes on corporate capital structure choices, we show...

Empirical growth regressions typically include mean years of schooling as a proxy for human capital. However, empirical research often finds that the sign and significance of schooling depends on the sample of observations or the specification of the model. We use a nonparametric local-linear...

Empirical growth regressions typically include mean years of schooling as a proxy for human capital. However, empirical research often finds that the sign and significance of schooling depends on the sample of observations or the specification of the model. We use a nonparametric local-linear...

The flow of foreign direct investment (FDI) has increased the challenges governments face in carrying out their fiscal responsibilities. A country’s system of law and order enables or constrains the implementation of government policies, and consequently influences whether the size of...