There is a growing policy interest in the role of financial structure in promoting development.  However, very little is known about how different financial structures emerge and evolve.  In this paper we empirically assess the political origins of financial structure.  Using...

The paper examines the notion of a 'developmental state' and shows that China possesses the characteristics of a developmental state.  It explains the political economy which generated such a state in China and in some other economies.  It analyses the methods and mechanisms that were...

Following the wave of democratization during the 1990s, elections are now common in low-income societies.  However, these elections are frequently flawed.  We investigate the Nigerian general election of 2007, which is to date the largest election held in Africa and one seriously marred by...

This paper explores an oil discovery natural experiment to assess the role of natural resources in determining corruption. We argue that an anticipated oil boom may increase corruption by boosting the value attributed by an elite to being in power when the actual oil exploration begins. We test...

Can we devise mechanisms that allow voters to express the intensity of their preferences when monetary transfers are forbidden? Would we then be able to take account of how much voters wish the approval or dismissal of any particular issue? In such cases, would some minorities be able to decide...

Vote buying is a frequent practice during election time in many parts of the world. But no research has been done to quantify its effects on voters` electoral behavior. To address this challenge, we have designed and conducted a randomized experiment during the presidential elections of July...

To what extent does the policy of Tony Blair`s government reflect the traditional aspirations of social democracy? In macroeconomic policy the emphasis has been on stability, an understandable response to recent UK economic history, but one which has left sterling dangerously overvalued for an...

While it is clear that natural disasters have serious welfare consequences for affected populations, less is known with respect to how local labour markets in low income countries adjust to such large shocks in particular the general equilibrium effects of the increase in the demand for...

Agriculture is the largest sector in most sub-Saharan economies in terms of employment, and it plays an important role in supplying food and export earnings.  Rural poverty rates remain high, and labor productivity is strikingly low.  This paper asks how these factors shape the role of...

Climate physics predicts that the intensity of natural disasters will increase in the future due to climate change.  One of the biggest challenges for economic modeling is the inherent uncertainty of climate events, which crucially affects consumption, investment, and abatement decisions.  We...