This paper studies the productivity effects of integration deepening. The identification strategy exploits the 1995 European Union (EU) enlargement, when all candidate countries joined the Single Market but one - Norway - did not join the EU. Our synthetic difference-in-differences estimates on...

“The UK-EU economic relationship has never been more important but also more uncertain. For anyone seeking perspective, this book is the essential guide.” Barry Eichengreen, George C. Pardee and Helen N. Pardee, Professor of Economics at the University of California, Berkeley “Brexit is an...

This paper throws new light on the relationship between income and democracy. Using data for 162 countries over 1960-2018, we show that the causal relationship between political and economic development is U-shaped: "intermediate" political regimes significantly lead to inferior economic...