premised on the understanding that institutions matter for development. However, there is no straightforward answer to the … question of what exactly 'institutions' are, how they change, or how they can be made to change to become more supportive of an … extractives-led development agenda. The paper suggests reframing the political economy of extractive resources away from the …

This paper assesses the determinants of state fragility in sub-Saharan Africa using hitherto unexplored variables in …

We study economies where improving the quality of institutions - modeled as improving contract enforcement - requires …

persistence of inefficient institutions in developing countries. Colonization, social fragmentation and the existence and use of … single factor on its own can explain the persistence of inefficient institutions; rather, it is the combination of exogenous … and endogenous factors that shape institutions …

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to … different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected …

Purpose - With the recent financial crisis and reduction of foreign aid by donor countries, the aid-institutions debate … consistently for economic and institutional governance. Originality/value - The paper has contributed to the aid-institutions …' literature by examining how aid instabilities affect an aggregate index of governance dynamics in Africa …

In this paper, I document three stylized facts on leaders, institutions, and re-election incentives, using cross …-country data: (1) in democracies, the positive relationship between leaders' performance and their capability is significantly less … between leaders' performance and their capability is decreasing over time in their tenure; and (3) there are no such findings …

Purpose - The study extends the debate on finance versus institutions in the promotion of investment documented by … governance as a better determinant of private investment than financial intermediary development. Moreover, the evidence of … institutions to promote investment on the one hand and fighting financial allocation inefficiency by mitigating surplus liquidity …

A 2015 World Bank report on the achievement of Millennium Development Goals (MDGs) revealed that since the 1990s …, extreme poverty has been decreasing in all regions of the world with the exception of Africa where about 50 percent of … countries in Sub-Saharan Africa did not achieve the MDG extreme poverty target despite the sub-region enjoying more than two …