Vice is the true father of Western capitalism, according to Ian Klaus in this fascinating, wildly entertaining, and often startling history of modern finance. Rather than the noble pursuit of gentlemen, international financial affairs in the nineteenth century were conducted in large part, the...

This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance transmission channel. At the theoretical level, we develop a simple dynamic general equilibrium model in which financial intermediaries make portfolio decisions on behalf of...

Trustʺ or likewise confidenceʺ (the term preferred in this paper) are notions which have received considerable attention by economists in the last 8-10 years. In this contribution, much emphasis is put on the understanding what we really mean by confidenceʺ, what the differences between...

This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance transmission channel. At the theoretical level, we develop a simple dynamic general equilibrium model in which financial intermediaries make portfolio decisions on behalf of...