This paper highlights the complex and contested relationship between drugs and development policies globally. It uses a recent experience in Thailand to showcase the link between drugs and development policies while highlighting the difficult international terrain for forging a common United...

Cover -- Title Page -- Copyright -- Contents -- A Note to Readers -- Preface -- Acknowledgments -- Chapter 1 Like Investing in Alcohol at the End of Prohibition -- Time to Buy -- Chapter 2 The Feds, the DEA, and the War on Drugs -- Chapter 3 The Cannabis Investment Opportunity -- The Cannabis...

This paper develops a model of the war against illegal drugs in both producer and consumer countries. The paper studies the trade-off faced by the government of the drug consumer country between prevention policies (aimed at reducing the demand for drugs) and enforcement policies (aimed at...

This paper presents a general equilibrium model for the production, trafficking, and consumption of illegal drugs which endogenously determines relative prices and quantities. The model is calibrated to characterize the market for cocaine and is used to analyze the effects of three types of...