Whether a political system can attract high-quality candidates is key to producing high-quality politicians. In this article, we examine the issue of candidate pool formation in developing countries where elections are absent. We argue that a government can attract competent individuals to...

I conduct an event study of an exogenous pollution shock – smog in the winter of 2013 – to examine how the market values of firms in polluting industries and environmental protecting industries, respectively, responded in “the world’s worst polluter:” China. I first show that...