Przeworski, Alvarez, Cheibub, and Limongi (2000) challenge the key hypothesis in modernization theory: political regimes do not transition to democracy as per capita incomes rise, they argue. Rather, democratic transitions occur randomly, but once there, countries with higher levels of GDP per...

"The 2008 financial crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial system....

This article applies modern Bayesian roll call analysis to estimate legislators' support for minority-favored policies, and to determine the likely impact of competing redistricting plans on the substantive representation of minority interests. We first provide a theory of districting and policy...

The G20's push towards central clearing changed the shape of the world's financial system: all standardized derivative contracts must now be cleared through central counterparties (CCPs). Despite considerable debate, the impact of central clearing nonetheless remains ambiguous and hard to...

We explore the determinants of market regulation with an analysis of the policy-making process in which the legislature delegates authority to an executive agency and special interests can lobby the executive agency. We discuss how the mere threat of administrative lobbying by the industry may...