In this paper we study the influence of economic stability on the level of corruption in a country, where high stability is defined as a low level of variance in economic output growth. We present a political competition model with exogenous shocks to economic output where politicians can decide...

Recent research on central bank governance has focused mainly on their monetary policy task. As the sub-prime loan market turmoil reminded us - central banks play a crucial role in financial markets not only in setting monetary policy, but also in ensuring their soundness and stability. In this...

Die steigende Nachfrage nach extraktiven Rohstoffen sowie der Rohstoffpreisboom der 2000er-Jahre haben in den letzten Jahren die Debatte über den mangelnden Beitrag von Rohstoffreichtum zu inklusiver Entwicklung intensiviert. Als eine zentrale Ursache, warum die Einnahmen aus Ressourcenabbau zu...