As concerns about reform fatigue in lower- and middle-income countries have become more widespread, so has the search for ways of boosting support for market-oriented reforms. While the effects of political institutions on reform results have been extensively analyzed, there has been relatively...

Do democracies suffer higher inflation than non-democracies? We identify two competing hypotheses regarding the impact of democracy on inflation. In the "populist" approach, inflation is the result of public demands for transfers financed by the inflation tax, suggesting that electoral...

There has been relatively little investigation of the relationship between constitutional transformations and the economic transition in post-communist countries. We develop a simple signaling model in which constitutionalism - a commitment to limit political power and provide judicial defense...