"The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more...

Tax incentives neither make up for serious deficiencies in a country's investment environment nor generate the desired externalities. But when other factors, such as infrastructure, transport costs, and political and economic stability are more or less equal, the taxes in one location may have a...

Somalia has lacked a recognized government since 1991-an unusually long time. In extremely difficult conditions the private sector has demonstrated its much-vaunted capability to make do. To cope with the absence of the rule of law, private enterprises have been using foreign jurisdictions or...