Resumen:El debate entorno a la dolarización ha cobrado importancia en América Latina en los últimos años y Colombia no es la excepción. A los defensores y contradictores de la propuesta se suman aquellos que consideran irrelevante la discusión. Este artículo revisa los argumentos a favor...

Abstract: We document the existence of a Crime Kuznets Curve in US states since the 1970s. As income levels have risen, crime has followed an inverted U-shaped pattern, rst increasing and then dropping. The Crime Kuznets Curve is not explained by income inequality. In fact, we show that during...

This paper studies the effect of strengthening democracy, as captured by an increase in voting rights, on the incidence of violent civil conflict in nineteenth-century Colombia. Empirically studying the relationship between democracy and conflict is challenging, not only because of conceptual...

Abstract:Free media may not favor political accountability when other democratic institutions are weak,and may even bring undesirable unintended consequences. We propose a simple model in whichpoliticians running for office may engage in coercion to obtain votes. A media scandal thatexposes...

Among the fundamental causes of long-run economic performance, differences in 'institutions' have received considerable attention in recent years. At the same time, a large body of theoretical and empirical work shows that financial development can have a big effect on economic performance. This...

Credit supplied by the banking sector is the most important funding source for firms and households in Latin America and the Caribbean. Unfortunately, credit is scarce, costly and volatile. Without deep and stable credit markets, the region will be hard pressed to achieve high and sustainable...

We investigate how economic inequality can persist in Latin America in the context of radical falls in political inequality in the last decades. Using data from Colombia, we focus on a critical facet of democratization - the entry of new politicians. We show that initial levels of inequality...

Abstract We document the existence of a Crime Kuznets Curve in US states since the 1970s. As in come level shave risen, crime has followed an inverted U-shaped pattern, first increasing and then dropping. The Crime Kuznets Curve is not explained by income inequality. In fact, we show that during...

This paper examines the role of mass media in countering special interest group influence. I use the concentration of campaign contributions from Political Action Committees to proxy special interests´ capture US Senate candidates from 1980 to 2002, and compare the reaction of voters to...