This paper explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. Using a structural gravity framework on annual bilateral FDI data for almost...

This paper examines the linkages between the trade of goods and financial assets. Do both flows behave as complements (implying a positive correlation) or as substitutes (negative correlation)? Although a classic topic in international macroeconomics, the empirical evidence has remained...

The global financial crisis and the subsequent uneven recovery have underscored the need for Africa's resilience to output and other shocks originated in the rest of the world. A comparison of two regional economic communities - the East African Community (EAC) and the Southern Africa Customs...

We develop a theory of endogenous regimes transitions (with a focus on democratic consolidation), which emphasizes the role of political culture and of its interaction with political institutions. Political culture reflects the extent of individual commitment across citizens to defend democracy...

Since 2007, the Ecuadorian government has required teacher candidates to pass national skill and content knowledge tests before they are allowed to participate in merit-based selection competitions for tenured positions at public schools in an attempt to raise teacher quality. We evaluate the...

Since 2007, the Ecuadorian government has required teacher candidates to pass national skill and content knowledge tests before they are allowed to participate in merit-based selection competitions for tenured positions at public schools in an attempt to raise teacher quality. We evaluate the...

This paper presents new evidence on schooling mobility across three generations in six Latin American countries. By combining survey information with national census data, we have constructed a novel dataset that includes 50,000 triads of grandparents, parents, and children born between 1890 and...

The international business cycle is very important for Latin America's economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of...

At least since 1750 when Baron de Montesquieu declared "peace is the natural effect of trade," a number of economists and political scientists espoused the notion that trade among nations leads to peace. Employing resources wisely to produce one commodity rather than employing them inefficiently...