considered, on the initial level of income and on its initial distribution. But, on the other hand, as growth and inequality are … level of development and on the initial distribution of income. Our results suggest that while high inequality levels are a … have the potential to enhance growth in low-income countries where income distribution remains relatively equal, but can …

this paper we frame our starting question within the general debate about the importance of good/bad institutions as … are in fact driven by the presence of growth enhancing institutions. Our empirical analysis exploits newly available … institutions is important for growth. Yet our results strongly suggest that the weight of tourism in an economy is an independent …

Does trade improve institutions and contribute to long run growth? I develop a theory of trade, in which trade … liberalization provides incentive to change institutions in two ways. On the one hand, trade leads to specialization according to … comparative advantage, expanding the industries that do not rely on contracting institutions in less developed countries. The …