The issue of an appropriate legal framework, especially in the case of the takeover market, has been poorly studied in the case of emerging markets, yet it is of immediate relevance and practical policymaker interest. The study makes a first attempt to analyze takeover regulations in a...

This paper estimates the survival time of nearly 7,000 firms in a dozen high-income and middle-income countries in a scenario of extreme economic distress, using the World Bank's Enterprises Surveys. Under the assumption that firms have no incoming revenues and cover only fixed costs, the median...

Using panel data for 189 economies from 2005 to 2013, this paper shows that business-friendly regulations are correlated with the poverty headcount at the country level. This association is significant using the World Bank's Doing Business indicators on getting credit and contract enforcement....

Students around the world are going to school but are not learning -- an emerging gap in human capital formation. To understand this gap, this paper introduces a new data set measuring learning in 164 countries and territories. The data cover 98 percent of the world's population from 2000 to...

Public procurement regulation is an important instrument for using public resources efficiently and ensuring quality services to citizens. On average, the public procurement sector accounts for 14.5 percent of the gross domestic product globally. Using new data, this study documents public...

We use nationally representative survey data from Mexico to compare households with savings accounts in formal financial institutions to their neighbors who do not have such accounts. The survey, which was conducted in 2005, contains information on nearly 5000 households. We find that while...

This paper shows that Eastern Orthodox believers are less happy compared with Catholics and Protestants using data covering more than 100 countries around the world. Consistent with the happiness results, the paper also finds that relative to Catholics, Protestants, and non-believers, those of...

Tariff exemptions for exporters are widely used by many countries as an instrument for providing export incentives. This author argues that when tariff exemptions are granted as a means of industrial regional promotion to an industry independently of its export performance, the tariff exemptions...

The dominant hypothesis in the literature that studies conflict is that poverty is the main cause of civil wars. We instead analyze the effect of institutions on civil war, controlling for income per capita. In our set up, institutions are endogenous and colonial origins affect civil wars...

This paper offers for the first time a global picture of gender discrimination by the law as it affects women's economic opportunity and charts the evolution of legal inequalities over five decades. Using the World Bank's newly extended Women, Business and the Law database, the paper documents...