Major moves in Colombia's stock market in the 2000s correspond to major news of progress or setbacks in rebuilding the country's institutions, shattered by widespread guerrilla insurgencies in the 1990s. This contrasts with prior work reporting no news on major market moves in the US, a country...

International migration is an important determinant of institutions, not considered so far in the development literature. Using cross-section and panel analysis for a large sample of developing countries, we find that openness to emigration (as measured by the natives' average emigration rate)...

In common with several other low-income African economies, in recent years Mozambique has seen a significant expansion of interest and investment in its long-established extractives industries. Huge new gas finds in particular have led to expectations that these industries will contribute very...