This analysis compares the cost efficiency of Islamic and conventional insurers operating in eight countries. We analyze data collected from 32 insurers using stochastic frontier analysis, data envelope analysis and a partial frontier approach with order-alpha free disposal hull. We compare the...

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...