This research explores the origins of the distribution of time preference across regions. It advances the hypothesis, and establishes empirically, that geographical variations in natural land productivity and their impact on the return to agricultural investment have had a persistent effect on...

The debate about the long-term economic development of China compared with Europe has taken a new turn with the publication of Kenneth Pomeranz’ book on ‘The Great Divergence’, in which he maintains that before the Industrial Revolution the most advanced parts of China (in particular the...

Since the mid-1980s a substantial body of research has taken shape on trade in services. Much of this is inspired by the WTO and regional trade agreements. However, an increasing number of papers focus on the impacts of unilateral services sector liberalization. The literature touches on...

China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper analyses China’s institution - a regionally...

Drawing on the recent literature on economic institutions and the origins of economic development, we offer a political economy explanation of why institution building has varied so much across transition economies. We identify dependence on natural resources and the historical experience of...

In this paper we develop a new empirical approach to uncovering the impact of social attitudes on economic development. We first show that trust of second-generation Americans is significantly influenced by the country of origin of their forebears. In the spirit of the epidemiology literature,...

There is controversy about whether geography matters mainly because of its contemporaneous impact on economic outcomes or because of its interaction with historical events. Looking at terrain ruggedness, we are able to estimate the importance of these two channels. Because rugged terrain hinders...

The stalemate reached on launching negotiations on most of the Singapore Issues at Cancún provides an opportunity to revisit the knowledge base upon which proposals for international collective action may be drawn. This Paper examines the available evidence on public procurement practices in...

This Paper empirically investigates the impact of distortions in the banking sector on the structure and dynamics of product markets as well as on firm level outcomes. Our analysis suggests that an increase in the efficiency of the banking industry can have first-order effects not only on the...

This Paper investigates the determinants of countries’ export performance looking in particular at the role of international product market linkages. We begin with a novel decomposition of the growth in countries’ exports into the contribution from increases in external demand and from...