July 2000 - To bring fiscal discipline to state and municipal governments, Mexico's federal government has established a two-pillar framework that explicitly renounces federal bail-outs and establishes a Basel-consistent link between the capital-risk weighting of bank loans to subnational...

This paper examines the upward trend of numbers in receipt of Invalidity Benefit (the major contributory benefit for the long-term sick) in Britain since 1971. Possible explanations include the rising level of unemployment through much of the period; the heightened link between ill-health and...

How do countries become open capitalist democracies? Why do they often fail? What can be the violent consequences of such failures? Douglass North, John Wallis, Barry Weingast, and Webb have proposed a framework for addressing these questions, as described in the first part of this article. It...