Using panel data for 104 countries between 1975 and 1998, this article tries to explain interruptions of IMF programmes around election dates in the recipient countries. On average, programmes seem to be more likely to break down before elections. This increase in interruption probabilities is,...

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a cross-section of 120 countries and...