The aim of this paper is to check whether intergovernmental transfers for water projects accepted in 1986 can be rationalized by a simple efficiency criterion. The empirical findings support this conjecture only partially.

"How Chinese migration to the world's goldfields upended global power and economics and forged modern conceptions of race. In roughly five decades, between 1848 and 1899, more gold was removed from the earth than had been mined in the 3,000 preceding years. But friction between Chinese and white...