Democracy tends to cultivate short-sighted politicians, for whom the horizon extends more or less till next election. This feature gives rise to a discrepancy between the time rate of discount of a country’s polity and the interest rates at which the country borrows. I show how this...

Prior to 1996, Israelis in collective communities (kibbutzim) shared the costs of raising children equally. This paper examines the impact of the privatization of kibbutzim on fertility behavior among members. We find that fertility declined by 6-15 percent following the shift to privatization....

This paper explores the case for believing endogenous reforms to be more developmental than externally-imposed reforms, by drawing on the recent unorthodox experience of cotton sector reform in Burkina Faso. We address questions about reform emergence, feasibility, developmental impact, and...

Replaced with revised version of paper Jan. 11, 2012

The cotton boom in Burkina Faso consisted of a growth in cotton land shares together with an overall increase in total cultivated land. This paper examines the impact of institutional changes in the cotton sector on the evolution of smallholders’ land-use decisions. The empirical analysis is...