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A Theory of Political Transitions
Acemoglu, Daron; Robinson, James A - C.E.P.R. Discussion Papers - 1999
unrest or revolution, and this may force the elite to democratize. Democracy may not consolidate because it is more … redistributive than a nondemocratic regime, and this gives the elite an incentive to mount a coup. Because inequality makes democracy … more costly for the elite, highly unequal societies are less likely to consolidate democracy and may end up oscillating …
Persistent link: https://www.econbiz.de/10005661707
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Growth, Volatility and Political Instability: Non-Linear Time-Series Evidence for Argentina, 1896-2000
Campos, Nauro F; Karanasos, Menelaos - C.E.P.R. Discussion Papers - 2007
What is the relationship between economic growth and its volatility? Does political instability affect growth directly or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual time series data for Argentina from 1896 to 2000. We show...
Persistent link: https://www.econbiz.de/10005667076
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Investment and Instability
Campos, Nauro F; Nugent, Jeffrey B - C.E.P.R. Discussion Papers - 2000
Although recent research has repeatedly found a negative association between investment and political instability, the existence and direction of causality between these two variables has not yet been investigated. This paper empirically tests for such a causal and negative long-run relationship...
Persistent link: https://www.econbiz.de/10005791838
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Inequality and Growth
Bénabou, Roland - C.E.P.R. Discussion Papers - 1996
capital markets theories. It allows for departures from perfect democracy and embodies the trade-off between the growth costs …
Persistent link: https://www.econbiz.de/10005123982
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International Terrorism, Political Instability and the Escalation Effect
Campos, Nauro F; Gassebner, Martin - C.E.P.R. Discussion Papers - 2009
What are the main causes of international terrorism? The lessons from the surge of academic research that followed 9/11 remain elusive. The careful investigation of the relative roles of economic and political conditions did little to change the fact that existing econometric estimates diverge...
Persistent link: https://www.econbiz.de/10005029291
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Who is Afraid of Political Instability?
Campos, Nauro F - C.E.P.R. Discussion Papers - 2000
An unstable macroeconomic environment is often regarded as detrimental to economic growth. Among the sources contributing to such instability, the literature has assigned most of the blame to political issues. This paper empirically tests for a causal and negative long-term relationship between...
Persistent link: https://www.econbiz.de/10005504467
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Two to Tangle: Financial Development, Political Instability and Economic Growth in Argentina (1896-2000)
Campos, Nauro F; Karanasos, Menelaos; Tan, Bin - C.E.P.R. Discussion Papers - 2008
This paper investigates the effects of financial development and political instability on economic growth in a power-ARCH framework with data for Argentina from 1896 to 2000. Our findings suggest that (i) informal or unanticipated political instability (e.g., guerrilla warfare) has a direct...
Persistent link: https://www.econbiz.de/10005114221
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Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt
McKenzie, David - C.E.P.R. Discussion Papers - 2014
Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. We conduct a randomized experiment in post-revolution Egypt...
Persistent link: https://www.econbiz.de/10011084029
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Decentralizing Education Resources: School Grants in Senegal
Carneiro, Pedro; Koussihouèdé, Oswald; Lahire, Nathalie; … - C.E.P.R. Discussion Papers - 2015
The impact of school resources on the quality of education in developing countries may depend crucially on whether resources are targeted efficiently. In this paper we use a randomized experiment to analyze the impact of a school grants program in Senegal, which decentralized a portion of the...
Persistent link: https://www.econbiz.de/10011249370
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Real-Time Hierarchical Resource Allocation with Quadratic Costs
Van Zandt, Timothy - C.E.P.R. Discussion Papers - 2003
This Paper presents a model in which boundedly rational members of an administrative staff calculate resource allocations in real time. We consider a class of hierarchical procedures in which information about payoff functions flows up and is aggregated by a hierarchy, while allocations flow...
Persistent link: https://www.econbiz.de/10005662081