In this paper, we study the link between real exchange rate (RER) depreciation and elections in Latin America. Our contribution is threefold. First, we employ a statistical model that takes into account the pervasive conditional heteroskedasticity found in financial data and includes a wide...

We depart from the trade and wages literature and its emphasis on North-South trade, examining North-North trade and linkages between trade-based integration and relative wages in an Etiher-type division of labor model. Using this model we identify a formal relationship between international...

I examine 19th century Mexico for a better understanding of how and why it was so difficult to create the institutions of a modern state. I show that Mexico suffered from a vicious cycle in that period, something that is probably common to many developing countries, in that they needed a large...

In this paper, the author presents a statistical test of the hypothesis that Protestantism is positively associated with economic growth. The author also investigates whether religion can help to explain why ex-Spanish and French colonies have significantly lower economic growth than ex-British...