World prices have traditionally been unstable, however, the authors'find thehe much publicized turbulence in world markets in the mid-1970's and early 1980's to have been more a statistical fluke - an unlucky chance sample - than the beginning of any longer term increase in market instability....

The paper argues that to achieve compliance of firms with regulations such as product quality or environmental or health standards it is better to have industries with a few large corporations than numerous small firms. A model is constructed to show that limited liability constraints bind more...

This paper provides a review of the contradictions and conflicts in the literature on economic governance and sketches an approach to use some of the conceptual and empirical findings from that literature for development policy. The literature offers conflicting conclusions on big questions:...

This paper considers the possibility of collective action by the business community to counter corruption in the award of government licenses and contracts. The analogy is with contract enforcement institutions studied by economic historians and contract law scholars. The institution in this...