This volume was prepared by Susanne Link during her stay at the Ludwig-Maximilians-University of Munich and the Department of Human Capital and Innovation of the Ifo Institute of Economic Research. It was accepted as a doctoral thesis by the Economics Departure of the University of Munich in...

Dynamics of Balance of Payment developments are still barely researched. Chapter 1 tries to summarize empirical evidence between institutional determinants and BoP movements and proposes a framework for the role of institutions in a debt cycle. It is found that “good” institutions do help a...