Success in development over the past half-century was based on manufacturing-led export growth. Because the share of global employment in manufacturing will decline, manufacturing won't play the same role in the coming decades. An increase in manufacturing employment won't suffice to meet the...

We exploit differences in the mortality rates faced by European colonialists to estimate the effect of institutions on economic performance. Our argument is that Europeans adopted very different colonization policies in different colonies, with different associated institutions. The choice of...