Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments of earlier obligations, whilst international organizations (official lenders) condition future loans on the implementation of some policy action (iinvestmentj). We build an...

Charitable giving increasingly requires recipients to undertake costly prior action. A common justification is that willingness to undertake costly actions signals greater productivity from transfers. We demonstrate that, if the distribution of recipient types is unknown, recipient costs...

This paper uses annual aggregate data for 46 developing countries covering the period 1996–2009 to investigate if FDI crowds out domestic private investment and if alternative elements of governance have differing effects on the relationship between FDI and private investment. Results suggest...