We analyze the effects of different regimes of control rights over critical resources on the total domestic income of open economies. We consider home control, foreign control, and international partnerships in a theoretical model where contracts are incomplete, resource exploitation requires...

A fundamental requirement of market economies is the security of ownership claims to property. Yet history is littered with cases of challenges to these claims. A large literature has found contradictory evidence for the effect of income and income inequality on revolt, possibly due to omitted...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...