There are both empirical and theoretical arguments for the thesis that foreign factors have an impact on domestic institutional quality. Yet the literature is divided over whether exposure (openness to the world economy) or the kind of institutions in surrounding countries (relative location)...

This paper constructs agreement specific instruments in order to estimate the effect of membership in a regional cooperation agreement (RCA) on institutional change. For a sample of 144 emerging and developing economies, the results show that membership in a RCA explains a significant part of...

This paper examines theoretically and empirically the extent to which the decision by foreign firms to invest in a group of countries is influenced by economic factors, as opposed to political risk and institutional performance. We consider the importance of these factors as drivers of foreign...

Recent research has shown that the degree to which people feel they are in control of their lives is an important correlate of individual happiness, where those that feel more in control are also found to be systematically happier. In turn, the economic sources of perceived life control are only...

This paper studies the institutional reform process in Central Asia from 1995 to 2006. I compare the institutional reform processes of Central Asian countries to those conducted in their neighbouring countries of Central and (South) Eastern Europe, and the Middle East. The paper identifies...

This paper constructs agreement specific instruments in order to estimate the effect of membership in a regional cooperation agreement (RCA) on institutional change. For a sample of 144 emerging and developing economies, the results show that membership in a RCA explains a significant part of...