This book scrutinizes the last 15 years of exceptional growth in the Turkish economy, and presents a model for sustainable ongoing growth that has particular implications for other key emerging economies. The growth of the Turkish economy in the 2000’s was based on two integrated fundamental...

In this article, we survey a growing body of evidence showing the effects of trust on the wealth of nations. It is important to understand the mechanisms through which trust affects the wealth of nations. This article suggests that trust has effects on the wealth of nations mainly through five...

In this paper, we investigate the effect of government ownership of banks on employment growth. Our empirical results show that government ownership of banks reduces employment growth in industries with higher job creation opportunities.

Our article investigates the effect of taxation on democracy. We exploit exogenous variation in taxation driven by wars from the pre-modern era and document a positive and highly significant first-stage relationship between pre-modern war casualties and taxation. Using this instrumental variable...