In a two‐country general equilibrium Ricardian model, we propose a model in which countries compete in the same sectors via exports or foreign direct investment (FDI). Factor endowments are important in that they affect relative wages and the range of goods countries produce. Effects of factor...

This paper contributes to this literature in several ways. First, it uses Kejriwal and Perron (2010) sequential procedure to endogenously determine multiple structural changes in real oil prices without facing the circular testing problem between structural changes and stationary assumptions of...

This paper presents a classification of the political regimes based on their level of participation/inclusion and competition in the collective decision-making. We use the criteria developed to build a dataset for every currently independent country in the world for the period 1800-2006

The goal of this paper is to analyze the impact of OPEC's oil price level versus oil supply strategy on the country's gross domestic product (GDP) growth rate. Our motivation comes from a fundamental dilemma facing OPEC nations. Its members need to choose between the traditional OPEC cartel...

This paper studies the catching up process in per capita income of the so-called Asian Dragons and Tigers. It contributes to the literature in several ways. First, it tests the catching up hypothesis using the longest time span ever considered, from 1870 to 2014. Second, it documents the...

This paper studies the catching up process of the per capita income of Western European countries during the 1870-2014 period. Unlike the previous literature, which limits the number of possible structural breaks to two, we use the Kejriwal and Perron (2010) algorithm, which allows detecting any...

Freedom is a public good that can only be widely enjoyed in democracy, and individuals' support to democracy depends on their expectations about how its future performance, relative to alternative political regimes, will affect them. Under these assumptions, this paper emphasizes the role of...