Human, natural, and physical capital assets are a country's main resources for growth and welfare improvements. Their distribution, growth and productivity largely determine people's income and welfare. The poor rely on human and natural capital in addition to physical capital, so the...

In den vergangenen drei Dekaden haben die ostasiatischen Ökonomien als Gruppe ständig andere Entwicklungsregionen in ihrem Wirtschaftswachstum übertroffen. Die Autoren gehen vor diesem Hintergrund der Frage nach, inwieweit sich die Wirtschaftspolitik der ostasiatischen Regierungen von...

Modern economic development is accompanied by the structural transformation from an agrarian to an industrial economy. Since the 18th century, all countries that industrialized successfully have followed their comparative advantages and leveraged the latecomer advantage, including emerging...

In a general equilibrium in which bribe-extracting bureaucrats can endogenously choose regulatory burden and delay, the effective (not just nominal) red tape and bribery can be positively correlated across firms. Using data from three worldwide firm surveys, this paper finds evidence consistent...

For almost a century, the Dominican Republic has faced considerable governance and corruption challenges. High levels of corruption were present long time ago, and still prevail today, even if their characteristics and manifestations have changed. Rule of law has been weak for a long time, and...