This article examines how institutional arrangements affect the size, allocation, and use of public expenditures. It identifies a set of arrangements that can address underlying problems and affect three levels of expenditure outcomes - aggregate fiscal discipline, strategic prioritization, and...

North (1984) argues that it is not the cost of transport but the cost of transactions that prevents economies from realizing well-being - and that institutions matter because they affect the costs of transactions. The authors analyze the role of the deliberation council - an institution common...

Initiating public enterprise reform is a complex decision influenced by economic factors as well as the ideological biases and personalities of political leaders. Nevertheless, the use of a contracting framework yields important generalizations about what drives the decision. This article argues...