. Politicians can overcome their credibility deficit in two ways. First, they can build reputations. This requires that they fulfill … commitments to their clients. Endogenizing credibility in this way, the authors find that targeted transfers and corruption are …-electoral promises. They also argue that in the absence of political credibility, political reliance on patrons enhances welfare in the …

's households have absorbed the food price shock thanks to a combination of higher wages and pensions, and resort to private and … risks and uncertainties increased with the new oil shock. Although the short-term impact will be positive for Russia …