We examine the effect that revenue windfalls from international commodity price booms have on sovereign bond spreads using panel data for 36 emerging market economies during the period 1997-2007. Our main finding is that commodity price booms lead to a significant reduction in the sovereign bond...

This study investigates the origins of the guild revolts in late medieval central Europe. At first, using newly compiled city level data, their temporal evolution and spatial distribution is discussed. Afterwards, the paper provides a historical discussion and empirical analysis of their...

The empirical literature on the political economy of finance emphasizes the importance of political institutions as crucial determinants of financial development and shows that democratic regimes are positively and robustly correlated with financial development. By using a three years periodic...

Poorly governed (e.g., repressive) countries tend to be located near other poorly governed countries, and well governed countries near other well governed countries. Researchers, by identifying country characteristics (e.g., ethnic fractionalization) that may influence government quality, have...

This study investigates the effect of participative political institutions (PPIs) that emerged in many central European cities from the late 13th century. The empirical analysis of the paper is based on newly compiled long-run data for the existence of different types of PPIs in 104 cities in...

Understanding land accumulation dynamics is relevant for policy makers interested in the economic effects of land inequality in developing country agriculture. We thus explore and simultaneously test the leading theories of microlevel land accumulation dynamics using unique panel data from...

Ongoing climate change will increase competition for water. Diversified demand for water - in contrast with the rigid design of water systems, institutions and infrastructure - could hinder the implementation of adaptation policies in water management for Latin American countries. In this...

Previous work has shown a pattern of lower household incomes for those Paraguayan farms with female landowners in the household. The study of agricultural production reveals that Paraguayan women specialize in livestock and dairy production, while men specialize in crop production. An analysis...

Latin American and Caribbean countries have historically been known for their rates of land inequality, highest in the world. However, these countries also exhibit a high degree of heterogeneity in their patterns of land concentration and average farm sizes. These cross-country differences play...

Previous work has shown a pattern of lower household incomes for those Paraguayan farms with female landowners in the household. The study of agricultural production reveals that Paraguayan women specialize in livestock and dairy production, while men specialize in crop production. An analysis...