With a new development framework under way and an increasingly urgent need to address political, socioeconomic and environmental issues on a global scale, this is a critical moment for the international development agenda. Almost 15 years after the Millennium Declaration, a new phase for...

We illuminate several important aspects of the nature and causes of growth and institutional change. To do this, we focus on the role resource pressures have played in the historic development of Hawaii's institutions. We discuss the Hawaiian story in the context of the natural co-evolution of...

In this paper we document the stylized facts about the relationship between international oil price swings, sovereign risk and macroeconomic performance of oil-exporting economies. We show that even though being a bigger oil producer decreases sovereign risk–because it increases a...

This paper contributes to the growing political economy literature of within-country natural resources management, by proposing a new resource policy for the oil-rich southern Italian region of Basilicata. The policy proposal is to establish a (regional) wealth fund in which all the royalty...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...