We investigate the relationship between corruption and political stability, from both theoretical and empirical perspectives. We propose a model of incumbent behavior that features the interplay of two effects : A horizon effect, whereby greater instability leads the incumbent to embezzle more...

We investigate how the link between individual schooling and political participation is affected by country characteristics. We introduce a focus on a set of variables - namely factor endowments - which inuence the relative productivity of human capital in political versus production activities....

Current account deficits in the United States (US) and current account surpluses in East Asia are an enduring part of the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper argues that this strategy is causing macroeconomic...

Current account deficits in the United States (US) and current account surpluses in East Asia are an enduring part of the global economic landscape. They are supported by low saving in the US and by reserve accumulation in Asia. This paper argues that this strategy is causing macroeconomic...