Theory suggests that groups historically subject to discrimination, such as Jews, could exhibit traditionally high investment in education because discrimination spurred exit facilitated by human capital. Theory moreover suggests that if exit is uncertain, it could induce investment in skill...

It is argued that government credibility is an important resource and that it can be improved by delegating decision-making competence beyond the nation-state. It is hypothesized that such delegation should result in higher income and growth. Some former British colonies retained the Judicial...