Do people "vote with their feet" due to a lack of political competition? We formalize the theory of political competition and migration to show that increasing political competition lowers political rent leading to net in-migration. Our empirical application using US data supports this...

We model and predict that politicians have incentives to delay bank failure in election years and that this incentive is exacerbated if the election is close. Our empirical application using the US data supports these predictions. At the bank level, we show that bank failure in an election year...

We examine changes to corporate ownership in nine East Asian countries following the 1997 Asian Financial Crisis. Countries with lower incomes and in which policy making involves greater transactions costs (i.e., veto points) have more firms with state ownership. Partial state ownership appears...