Using cross-country data, this paper estimates the impact of the 2007 financial shock on countries' macroeconomic developments conditional on national financial regulations before the crisis. For this purpose, the financial reform index developed by Abiad et al. (A New Database of Financial...

This paper examines whether trade relationships facilitate resolution of international environmental spillovers. Trade might promote cooperation by providing opportunities for implicit side payments, allowing linkage between nvironmental and trade concessions, providing direct leverage over...

Transboundary spillovers may degrade environmental quality if countries free ride. This paper examines the extent of such degradation in water quality in international rivers. Using data from river monitoring stations in the UN's Global Environmental Monitoring System (GEMS), it compares...

We examine the effect of generalized trust on long-term economic growth. Unlike in previous studies, we use Bayesian model averaging to deal rigorously with model uncertainty and attendant omitted variable bias. In addition, we address endogeneity and assess whether the effect of trust on growth...