In this paper, we study the effects of institutions and policies on economic growth and poverty, paying close attention to institutions and policies that relate to the overall climate and regulations under which the private sector operates. We find that good governance, as measured by a strong...

This paper investigates the channels through which the middle class may matter for consumption growth and development. Determinants of the size and the growth of the middle class are also examined. Using several different middle class measures and a panel of 72 developing countries spanning the...