This paper studies the consequences of certain widespread policies for the quality and sustainability of growth. These policies cause economic inefficiency, environmental destruction and increased poverty. The paper develops a political economy model to show why the existence of such policies is...

This paper focuses on the interactions between local communities having at least some degree of informal claims over natural resources and external agents, particularly firms interested in commercial resource exploitation. The paper makes three contributions to the existing literature. First,...

We generalize endogenous growth models, which often assume a closed-economy, toallow for international borrowing and lending. We incorporate a prominent feature of globalfinancial markets, that the marginal cost of borrowing facing a small open economy is dependent on the "country risk" as...