The consequences of multinational corporations (MNCs) for human rights protection are poorly understood. We propose that the motives and behaviour of MNCs vary across industries. Extractive firms go where the resources are, which creates a status quo bias among them when it comes to supporting...

The bulk of social science theories explaining civil war focus on endogenous factors, generally ignoring the systemic effects of superpower rivalry during the Cold War. This study directly estimates US and Soviet rivalry by assessing the impact of CIA and KGB support to surrogates in proxy wars....

Genuine saving measures net investment in produced, natural and human capital. It is a necessary condition for weak sustainable development that genuine saving not be persistently negative. However, according to data provided by the World Bank, resource-rich countries are systematically failing...

This paper shows theoretically and empirically that beta- and volatility-based low risk anomalies are driven by return skewness. The empirical patterns con- cisely match the predictions of our model which generates skewness of stock returns via default risk. With increasing downside risk, the...