Piracy off the coast of Somalia took the world by surprise when, within a six-year span (2005-2011), as many as 1,099 ships were attacked, among which more than 200 were successfully hijacked. In 2012 however, attacks had plummeted with no new hijacking reported between 2013 and mid-2015. The...

The differences in financial systems between industrial and developing countries are pronounced. It has been observed, both theoretically and empirically, that the differences in countries' financial systems are a source of comparative advantage in trade. Do and Levchenko point out that to the...

The author studies the persistence of inequality and inefficient governance in a physical capital accumulation model with perfect information, missing credit markets, and endogenous barriers to entry. When access to investment opportunities is regulated, rent-seeking entrepreneurs form...

The institution of consanguineous marriage-a marriage contracted between close biological relatives-has been a basic building block of many societies in different parts of the world. This paper argues that the practice of consanguinity is closely related to the practice of dowry, and that both...

In a world with volatile food prices, countries have an incentive to shelter their populations from induced real income shocks. When some agents are net food producers while others are net consumers, there is scope for insurance between the two groups. A domestic social protection scheme would...

This paper analyzes theoretically and empirically the impact of comparative advantage in international trade on fertility. It builds a model in which industries differ in the extent to which they use female relative to male labor and countries are characterized by Ricardian comparative advantage...

Accurately measuring oil production in low-governance contexts is an important task. Many terrorist organizations and insurgencies-including the Islamic State group, also known as ISIL/ISIS or Daesh-tap oil as a revenue source. Understanding spatial and temporal variation in production in their...

In many developing countries, environmental quality remains low and policies to improve it have been inconsistently effective. This paper conducts a case study of environmental policy, focusing on an unprecedented ruling by the Supreme Court of India, which targeted industrial pollution in the...

This paper compares redistribution through trade restrictions versus domestic lump-sum transfers. When preferences are non-homothetic, even domestic lump-sum transfers affect relative prices. Thus, contrary to the conventional wisdom, domestic lump-sum transfers are not necessarily superior to...