Excessive concentration increases national risk in an uncertain world. This paper views economic and political … diversification as an essential aspect of national risk management aimed at promoting efficiency, growth, and welfare. The paper first … presents economic and political diversification side by side in a cross-country framework and discusses how they interact and …

Economic diversification has gained significant attention as a crucial factor for sustainable development worldwide … diversification for Mongolia. By comparing Mongolia with its designated aspirational and structural peers, the paper aims to shed … light on strategies that can foster economic and societal diversification in the country. Although Mongolia possesses …

opportunities to enhance long-term output per capita and productivity growth. -- financial crises ; democracy ; political …

the positive relationship between democracy and industrial diversification. … ask whether democracy also has a stabilizing effect on trend-volatility, i.e. whether more democratic countries experience … policies and financial development, we find that democracy is the most robust predictor of a country's propensity for growth …

Several studies have documented a negative relationship between democracy and volatility. The latter is usually … institutions, macroeconomic policies and financial development, we find that democracy is the most robust predictor of a country … entry for new firms. This leads to less sectoral diversification: fewer sectors are operated but more resources are …