This paper analyses GATT/WTO trade negotiations in an oligopolistic multi-country setting and identifies a new rationale for trade agreements.  When set unilaterally, tariffs are inefficiently high, both for familiar terms-of-trade reasons, but also to restrict market access of foreign firms. ...

This paper shows that the WTO's Article XXIV increases the likelihood of free trade, but may worsen world welfare when free trade is not reached and customs unions (CUs) form.  We consider a model of many countries.  Article XXIV prevents a CU from raising its common external tariff, which...

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...

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...

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...

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...

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...

Information asymmetries constitute a significant obstacle to capital flows across international borders, and in particular to flows of foreign investment (FDI) to emerging markets.  Many governments aim to reduce information barriers by emerging in investment promotion activities.  Despite...