This paper examines the externalities created in the Canadian securities market by virtue of the current system of provincial regulation. We examine the current system using the anticommons model, which predicts a decrease in the total value of a resource when too many parties have the right to...

The rise of financial technology (fintech) has the potential to provide better-quality financial services to more people. Although these enhanced financial services have arisen to meet consumer need, their regulatory status threatens that progress. Many fintech firms are regulated on a...

Although infrastructure is a key input into economic growth, systematic evidence on what drives overall spending across time or place is very limited. In this paper, motivated in part by the difficulties in international comparisons, we focus on infrastructure for which we can measure spending...

Society is self-organising or re-creative in the sense that new emergent structures result from interactions of actors, these structures enable and constrain actions and stimulate further practices. Political self-organisation is a reflexive process where political agents co-ordinate their...

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas:...

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas:...

We study the local effects of a federal program that helped cities clear areas for redevelopment, rehabilitate structures, complete city plans, and enforce building codes. We use an instrumental variable strategy to estimate the program's effects on city-level measures of income, property...

Since the 1970s, U.S. federal courts have issued court orders condemning state prison crowding. However, the impact of these court orders on prison spending and prison conditions is theoretically ambiguous because it is unclear if these court orders are enforceable. We examine states' responses...

There is widespread consensus that US infrastructure quality has been on the decline. In response, politicians across the ideological spectrum have called for increased infrastructure spending. Although the cost of infrastructure determines how much physical output each dollar of spending...

Although society as a whole may benefit from an independent judiciary, it is not clear that individual politicians do: an independent court is one that can tell a politician not to do what he or she would like. This paper develops a simple model in which incumbent politicians choose the level of...