This article reports on my attempt to replicate Sachs and Warner's 1995 and 1997 resource curse working papers. The 1995 paper is not replicable for lack of a data archive. Pure replication of the 1997 paper is achieved. Statistical replication determines that the proposed institutional causes...

This paper presents an economic interpretation of the optimal “stopping” of perpetual project opportunities under both certainty and uncertainty. Prior to stopping, the expected rate of return from delay exceeds the rate of interest. The expected rate of return from delay is the sum of the...

There are frequent suggestions that countries specializing in mineral and energy extraction have a type of growth that is bad for the poor. Others claim that extraction-led growth is particularly good for the poor. Both claims are made without the support of substantial empirical evidence. This...