differences through the dynamics of saving and investment. We posit that the drivers of economic development include institutions …We suggest that the geographical patterns of income differences across the world have deep underpinnings. We emphasize … that economic development is a complex process driven by economic, political, social, and biophysical forces. Some …

In this paper we revisit the relationship between institutions, human capital and development. We argue that empirical … institutions on long-run development is robust, while the estimates of the effect of human capital are much diminished and become … models that treat institutions and human capital as exogenous are misspecified both because of the usual omitted variable …

We exploit differences in the mortality rates faced by European colonialists to estimate the effect of institutions on … different associated institutions. The choice of colonization strategy was, at least in part, determined by whether Europeans … likely to set up worse (extractive) institutions. These early institutions persisted to the present. We document evidence …

"While substantial research finds that financial development boosts overall economic growth, we study whether financial … development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we … distinguish among competing theoretical predictions about the impact of financial development on changes in income distribution …

A Third World data base documenting commodity and factor prices 1870-1940 has been collected, yielding annual time …/rental ratios the world round between 1870 and 1940. The data offer a useful way to identify the impact of globalization on the pre …-industrial Third World. This paper finds commodity price convergence to have been bigger in the Third World than the Atlantic economy …

of life deep into the 18th century. Does world market integration breed more or less commodity price volatility? The … been associated with much greater commodity price volatility, while world market integration associated with peace and pro … never been constant. Globalization increased poor country specialization in commodities when the world went open after the …

While substantial research finds that financial development boosts overall economic growth, we study whether financial … development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we … distinguish among competing theoretical predictions about the impact of financial development on changes in income distribution …

This paper describes our construction of the Global Financial Development Database and uses the data to compare … financial systems around the world. The database provides information on financial systems in 205 economies over the period from … 1960 to 2010 and includes measures of (1) size of financial institutions and markets (financial depth), (2) degree to which …