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...

Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates...

This paper examines the relationship between political competition and financial development across a global sample of 127 countries, with a particular focus on developed and democratic OECD countries. Building on the theoretical frameworks of Acemoglu and Robinson (2006) and Besley et al....

Comparisons of India and China have been made for over 50 years. This paper focuses on purchasing power estimates in China and India in the 2005 round of the UN International Comparison Programme (ICP) that was coordinated by the World Bank, the Regional Banks and Economic Commissions. The 2005...

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...