ARCAND, Jean-Louis; GUILLAUMONT, Patrick; JEANNENEY, … - Centre d'Études et de Recherches sur le Développement … - 2005
land. We show that: (i) lower discount rates and stronger institutions decrease deforestation; (ii) depreciations in the …) paradoxically, better institutions may exacerbate the deleterious impact of depreciations in developing countries. These hypotheses …