Journal ArticleDOI
Africa's Growth Tragedy: Policies and Ethnic Divisions
William Easterly,Ross Levine +1 more
TLDR
This article showed that ethnic diversity helps explain cross-country differences in public policies and other economic indicators in Sub-Saharan Africa, and that high ethnic fragmentation explains a significant part of most of these characteristics.Abstract:
Explaining cross-country differences in growth rates requires not only an understanding of the link between growth and public policies, but also an understanding of why countries choose different public policies. This paper shows that ethnic diversity helps explain cross-country differences in public policies and other economic indicators. In the case of Sub-Saharan Africa, economic growth is associated with low schooling, political instability, underdeveloped financial systems, distorted foreign exchange markets, high government deficits, and insufficient infrastructure. Africa's high ethnic fragmentation explains a significant part of most of these characteristics.read more
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The political economy of redistribution under democracy
Jess Benhabib,Adam Przeworski +1 more
TL;DR: In this paper, the authors studied the conditions under which a democratic system can survive and found that if no redistribution simultaneously satisfies the poor and the wealthy, then democracy cannot be sustained.
Journal ArticleDOI
Institutions and financial development: evidence from international migrants in the united states
TL;DR: In this article, the authors investigate the impact of institutions on financial development by analyzing the financial behavior of immigrants in the United States and find that immigrants from countries with institutions that more effectively protect private property are more likely to own stock in United States.
Posted Content
Tax Morale and Compliance: Review of Evidence and Case Studies for Europe
Benno Torgler,Benno Torgler +1 more
TL;DR: An overview of the literature on tax morale and tax compliance can be found in this article, where the overall findings show the importance of accountability, democratic governance, efficient, and transparent legal structures and therefore trust within the society to enforce tax compliance and tax morale.
Program on the Global Demography of Aging
David E. Bloom,David Canning +1 more
TL;DR: In this article, the authors propose two ethical axioms: society prefers Pareto improvements and society values lives lived at a "standard" level of health and income equally, and show that there exists a unique social preference ordering satisfying these two ethical notions.
Journal ArticleDOI
Corruption, Democracy, Economic Freedom, and State Strength A Cross-national Analysis
Ce Shen,John B. Williamson +1 more
TL;DR: In this article, a structural equation-based analysis of data for 91 nations including several important determinants of cross-national variation in perceived levels of corruption was performed, including political rights, civil liberties, and press freedom.
References
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The mechanics of economic development
Abstract: This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Journal ArticleDOI
On the mechanics of economic development
TL;DR: In this article, the authors consider the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development, and compare three models and compared to evidence.
Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
ReportDOI
Economic Growth in a Cross Section of Countries
TL;DR: For 98 countries in the period 1960-1985, the growth rate of real per capita GDP is positively related to initial human capital (proxied by 1960 school-enrollment rates) and negatively related to the initial (1960) level as mentioned in this paper.
Journal ArticleDOI
Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.