Amid rising global interest in state interventions, this paper examines how China's infrastructure investments--a key macroeconomic policy tool--affect firm productivity. We focus on a policy that encourages regional governments to improve market conditions for private enterprises. Our analysis...

Infrastructure assets have undergone substantial privatization in recent decades. How do different types of owners target and manage these assets? And does the contract form--control rights (concession) vs. outright ownership (sale)--matter? We explore these questions in the context of global...

Infrastructure costs in the United States are high and rising. The procurement process is one potential cost driver. In this paper we conduct a survey of procurement practices across the 50 states. We survey both employees at each state department of transportation (DOT) and the road builders...

We estimate the long-term effect of public R&D on growth in manufacturing by analyzing new data from the Cold War era Space Race. We develop a novel empirical strategy that leverages US-Soviet rivalry in space technology to isolate windfall R&D spending. Our results demonstrate that public R&D...

Despite the incentives of incumbent domestic listed corporations (DLCs) in the electricity generation industry, private equity, institutional investors, and foreign corporations have played an outsized role in financing the energy transition. These new entrants are twice as likely to create...

Revolving door laws restrict public officials from representing private interests before government after leaving office. While these laws mitigate potential conflicts of interest, they also may affect the pool of candidates for public positions by lowering the financial benefits of holding...

We investigate the economic impacts of one of the world's largest anti-corruption crackdowns, Brazil's Operação Lava Jato (Car Wash). Using a difference-in-differences analysis of unique, matched firm-bank data, we find sizable declines in employment and wage bills for investigated firms,...

Poor implementation frequently impedes social protection delivery in low-state-capacity settings. In such environments, reducing managers' information acquisition costs may improve their grasp of frontline issues and program performance. However, in the presence of managerial rent-seeking,...

Millions of people lose access to safety-net programs each year because they do not complete the required administrative processes. In a large-scale field experiment, we randomized outreach offering personalized assistance during the Medicaid renewal window to identify the impact of transaction...

This paper presents a holistic view of the channels of political influence of large corporations in modern democracies, focusing not only on well-studied instruments, such as campaign contributions and lobbying, but also on more opaque ones, such as charitable giving, political connections, dark...