We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...

Several states in West Africa have experienced significant episodes of political violence since the early 2010s. These have included civil wars, religiously motivated terrorism, separatist insurgencies, military coups and communal strife, each of which have local, national and transnational...

This article reviews the recent burgeoning political economics research on nation-building. We focus on three main aspects of this body of work. First, we discuss methodological issues related to measuring nation-building outcomes and provide a synthesis of studies that employ different...