The values, faiths and virtues generate relatively stable attitudes and enduring predispositions of behavior, manifested in relation to a situation or person. The Weberian secularization hypothesis shows that, while the process of economic development is launched, the religious institution plays...

The Foreign Corrupt Practices Act (FCPA) prohibits US firms from paying bribes to foreign public officials. We show that FCPA enforcement has no positive effect on the GDP per capita of the countries of these officials but, rather, increases their countries shadow economy. When public officials...

The US Foreign Corrupt Practices Act (FCPA) prohibits the payment of bribes to foreign public officials. We uncover an unintended consequence – the shadow economies of the countries of these officials increase after FCPA enforcement. Our hypothesis is that if the FCPA successfully deters...

Magna Carta, a pivotal moment in the emergence of constitutional government, institutionalised constraints on royal power. We depict it as an optimal agreement between two coalitions capable of violence: the king's loyal coalition of barons and the rebel barons. This type of agreement is more...

The Foreign Corrupt Practices Act (FCPA) prohibits US firms from paying bribes to foreign public officials. We show that FCPA enforcement has no positive effect on the GDP per capita of the countries of these officials but, rather, increases their countries’ shadow economy. When public...