There may be a price to pay (in terms of inefficient coverage) if competition among health insurers is encouraged as a way to give patients greater choice and to achieve better control over insurance providers

Pigou's conjecture was that under costly taxation public expenditures should not reach the point where marginal benefits equal marginal costs. In the treatment here, public expenditures (and environmental protection) may provide public goods for consumption but also collective inputs for...

Ethnic diversity has a more adverse effect on economic policy and growth when a government's institutions are poor. But poor institutions have an even more adverse effect on growth and policy when ethnic diversity is high

One reason intermediate exchange rate regimes have fallen out of favor is that they are not transparent or easy to verify. A simple peg or a simple float may be easier for market participants to verify than a more complicated intermediate regime

Large potential benefits of infrastructure may elude identification and measurement by conventional cost-benefit analysis. Canning and Bennathan estimate social rates of return on general capital, by examining the effect on aggregate output and comparing that effect with the costs of construction