distributed unequally and institutions do not ensure political commitments. The results imply that for any level of development … resources for which democracy is infeasible in equilibrium irrespective of the level of development. The model also delivers …

In recent theories of comparative development the role of institutional differences has been crucial. Yet what explains … homogeneous in many ways, they experienced radically different paths of economic (and political) development which is conventional … development are conditional on the form that political competition takes in society. Endowments are not fate. …

the process of development. A simple general equilibrium model of rent-seeking political elites with two productive …

We construct a simple model where political elites may block technological and institutional development, because of a … replaced. Fearing replacement, political elites are unwilling to initiate change, and may even block economic development. We … show that elites are unlikely to block development when there is a high degree of political competition, or when they are …

Interactions between economic development and financial development are studied by looking at the roles of financial … institutions in selecting R&D projects (including both imitation and innovation). Financial development is regarded as the … development stages of an economy. At higher development stages a financing regime with ex post selection capacity is more …

? What relations should we expect between resource rents, civil wars and economic development? The paper is organized into …

-faring and airborne transportation technologies, to examine its impact on the course of economic development across the globe … effect on the process of development and contributed to the contemporary variation in the standard of living across countries. …