Using macro-level panel data, we examine the effects of taxation and tax progressivity on entrepreneurship in a large group of European countries. We address two main questions. First, we try to explore whether tax increases discourage entrepreneurial activity, focusing on new self-employment...

This paper examines the effects of political institutions, openness to trade, and social cohesion on development in fragile states. The empirical results indicate that beyond a certain level, openness to trade may actually be harmful to income, particularly in countries with high export...

Analysing panel data for the period 1975–2001 from a large group of African countries, we find that trade and institutions (political rights, civil liberties and the rule of law) exert little influence on human development in the form of literacy. Interestingly, income appears to be, by far,...

We estimate fixed-effects and Arellano-Bond GMM equations using panel data from a large group of developing countries and test whether trust-based social capital, proxied by contract-intensive money, complements the role of institutions in promoting development. The results we obtain provide...

Using Vector Error-Correction (VEC) model estimation on monthly data from Morocco for the period January 1974 to December 1992, this article tests the hypothesis that there is a long-run stable relationship between the official and the black-market exchange rates for US dollars. We also examine...