This paper examines the relationship between capital controls and financial development, with an emphasis on the empirical aspects of the linkage. Financial development is interpreted broadly as increasing the efficiency of allocating financial resources and monitoring capital projects. In...

Does economic freedom increase the utility of an average citizen? Public choice theory in particular has emphasized the shortcomings of governments and voting processes, and the advantages of relying on markets and individual decision making. However, an increasing amount of people are refusing...