The relationship between economic and political liberalization has received a great deal of attention lately, yet the possibility of a non-linear relationship and the role of reversals remain largely neglected. Focusing on democratization and financial reform, this paper offers evidence for a...

President Putin’s reassertion of state control over more and more of the economy combined with his radical reversal of many of the country’s political reforms is ominous. Correcting for some of the political and economic excesses of the original reforms is all to the good, but unless he can do...

President Putin's reassertion of state control over more and more of the economy combined with his radical reversal of many of the country's political reforms is ominous. Correcting for some of the political and economic excesses of the original reforms is all to the good, but unless he can do...

The role of institutions in economic growth has recently begun to receive greater attention in academic circles. Although the impact of institutions has been acknowledged by most, definitive conclusions still remain a question, particularly given the problem of endogeneity. We use panel least...