This book focuses on the role of economic and political institutions in economic development. The book offers fresh perspectives on the issues facing less-developed countries and the elements influencing their outcomes. The text includes chapters on democracy, property rights, and economic...

An empirical finding by Gaspar, Jaramillo and Wingender (2016) shows that once countries cross a tax-to-GDP threshold of around 12 3/4 percent, real GDP per capita increases sharply and in a sustained manner over the following decade. In this paper, we attempt via four case studies-Spain, China,...