We analyze how a wealth shift to emerging countries may lead to instability in developed countries. Investors exposed to expropriation risk are willing to pay a safety premium to invest in countries with good property rights. Domestic intermediaries compete for such cheap funding by carving out...

In the mid-2000s, the production of hearing aids shifted almost entirely to 3D printing. Using difference-in-differences and synthetic control methods, this paper examines the effects of this shift on trade flows. The analysis finds that trade increased roughly 60 percent following the...

This paper presents the largest globally comparable panel database of education quality. The database includes 163 countries and regions over 1965-2015. The globally comparable achievement outcomes were constructed by linking standardized, psychometrically-robust international and regional...

This paper takes a first look at the trade effects of China's Belt and Road Initiative, also referred to as the New Silk Road, on the 71 countries potentially involved. The initiative consists of several infrastructure investment projects to improve the land and maritime transportation in the...

This paper presents the most expansive and current cross-country dataset on education quality. The database includes 164 countries/territories covering over 98 percent of the global population from 2000-2017. Of these countries, 111 are low or middleincome economies. Harmonized learning outcomes...