We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization … economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover …, translate into lower subsequent inflation. Crises thus appear to serve as catalysts of reform and institutional change and lead …

Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be … driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of …

This paper examines the effect of trade integration and comparative advantage on one of a country’s institutions, which … in turn inuences its economic efficiency. The environment we explore is one in which a country’s lower classes may revolt … economic efficiency. Trade integration alters the relative value of the elite’s wealth. This alters the lower classes …

In this paper we study how differences in the quality of countries' institutions affect the impact of natural hazards in … output distance frontier model to assess two important aspects of the relation-ship between institutions and hazard impacts … else equal, suffer relative to the best performing countries. We can refer to this as the countries' (in)efficiency at …

contributions. One is to provide a deeper understanding of the relationship between political institutions and economic efficiency …

current tax configuration is from the optimal one and, thereby, the degree of efficiency of a tax system. We call this number …

regions rich in marine resources differ from societies with a purely agrarian legacy in terms of institutions, cultural values …