-run demand shocks. In this setup, the volatility of a firm's exports depends not only on the diversification of its destination … doubt on the commonly held belief that diversification must decrease volatility …

diversification as an essential aspect of national risk management aimed at promoting efficiency, growth, and welfare. The paper first … presents economic and political diversification side by side in a cross-country framework and discusses how they interact and … effects of insufficient economic and insufficient political diversification. Dominated for decades by the fishing industry …

different from other oil-rich countries. In five main ways, all of which suggest the need for economic diversification as an … to economic development, including human and social capital. The need for diversification can be viewed in terms of … seeking at bay. Economic diversification for the purpose of containing the preponderance of the resource-intensive industry at …

corruption and the concealment of officials' bribes, tax havens discourage the provision of public goods and hence have also a …

contrary, under corruption, we show that bailouts are ineffective unless rent-seeking groups are eradicated …

This paper aims to understand how corruption responds to an income loss. We exploit an unexpected 25% wage cut incurred …-stake exam taking place shortly after the wage announcement. To measure corruption we compare changes in exam outcomes from 2009 … induced better exam outcomes in public than in private schools and we attribute this difference to increased corruption by …

We study how the shadow economy affects pollution and how this effect depends on corruption levels in public … be accompanied by higher pollution levels. Our theoretical model predicts that controlling the levels of corruption can … levels of pollution are dependent on the levels of corruption. Our results hold when we control for the effects of other …