Vote-buying is widely used by parties in developing countries to influence the outcome of elections. We examine the impact of vote-buying on growth. We consider a model with a poverty trap where redistribution can promote growth. We show that vote-buying contributes to the persistence of poverty...

The efficient-market hypothesis holds that securities markets are efficient, fair and instantaneous in their treatment of material information flows. The reality may be somewhat messier in the emerging traded asset markets of the Global South. Emerging markets, notably Pakistan, present...