This report moves beyond the conventional scope of economics to examine three entrenched structural factors -demography, geography and institutions- that are closely connected to economic and social development. Historical in nature and slow to evolve, these variables are not always in the...

This report moves beyond the conventional scope of economics to examine three entrenched structural factors -demography, geography and institutions- that are closely connected to economic and social development. Historical in nature and slow to evolve, these variables are not always in the...

Competing in the world economy does not automatically boost a nation's productivity and restructure its economy. Such progress requires mobilizing capital, employment, technology and knowledge. Opportunities beyond the business realm must be fully exploited to the benfit of society as a whole....

Regional integration initiatives have long been part of the world economic landscape. In Latin America, integration flourished in the early post-war era but then lost momentum until the 1990s, when there was a new wave of initiatives ranging from free trade areas to customs unions. This Report...

This paper presents theory and evidence on the relationship between inequality and institutional quality. We propose a model in which the two dynamically reinforce each other and set out to test this relationship with a broad array of institutional measures. We establish double causality between...

Poorer countries have a much smaller public sector and correspondingly a smaller tax burden than richer countries, yet, their economic performance has not been necessarily better. Using a simple model, this paper suggests that the growth and welfare effects of taxation are mediated through...

This paper presents new evidence for major world regions and for the most populous countries in each region on associations between the average ages of populations and three groups of economic outcomes: (1) macroeconomic aggregates (domestic saving as a share of GDP, GDP per capita, capital per...

This paper uses a large cross-country survey of business firms to assess their influence on government policies. It is found that influence is associated with larger, government-owned firms that have a high degree of ownership concentration. In contrast, foreign ownership matters little. It is...

This paper studies the joint effect of economic and political inequalities on redistributive taxation and institutional quality. The theoretical model suggests that income inequality, coupled with political bias in favor of the rich, decreases redistribution and lowers institutional quality. The...

Competing in the world economy does not automatically boost a nation's productivity and restructure its economy. Such progress requires mobilizing capital, employment, technology and knowledge. Opportunities beyond the business realm must be fully exploited to the benfit of society as a whole....