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14 de mayo 2015
The Political Economy of the Chilean Transition to Democracy

El desempeño económico de Chile desde mediados de la década de 1990 ha sido sobresaliente. Son muchas las razones que explican este éxito. La sólida posición inicial de la economía fue una fortaleza crucial. El amplio consenso existente con respecto a las materias económicas también fue de gran ayuda. Este artículo postula que el escenario […]

27 de abril 2015
Do Good Institutions Promote Countercyclical Macroeconomic Policies?

The literature has argued that developing countries are unable to adopt countercyclical monetary and fiscal policies due to financial imperfections and unfavourable political-economy conditions. Using a world sample of up to 112 industrial and developing countries for 1984–2008, we find that the level of institutional quality plays a key role in countries’ ability and willingness […]

13 de abril 2015
Missionary Activity and Schooling in Former African Colonies: How Competition Mattered

Using regional data for about 180 African provinces, we find that measures of Protestant missionary activity in the past are more correlated with schooling variables today than similar measures of Catholic missionary activity, as previous papers have suggested. However, we find that this effect is mainly driven by differences in Catholic areas (i.e., areas in […]

13 de abril 2015
Historical Origins of Schooling: The Role of Democracy and Political Decentralization

Why does schooling attainment vary widely across countries? Why are differences in schooling attainment highly persistent? I show that cross-country differences in schooling are related to political institutions, such as democracy and local democracy (political decentralization), which are affected by colonial factors. By using the number of native cultures before colonization as an instrument for […]

13 de abril 2015
Good, Bad, and Ugly Colonial Activities: Do They Matter for Economic Development

Levels of development vary widely within countries in the Americas. We argue that part of this variation has its roots in the colonial era, when colonizers engaged in different economic activities in different regions of a country. We present evidence consistent with the view that “bad” activities (those that depended heavily on labor exploitation) led […]

06 de abril 2015
Checks and Balances in Weakly Institutionalized Countries

The past decade has been marked by episodes of dismantling checks and balances, the most notorious have taken place in oil producing countries such as Venezuela, Ecuador and Bolivia. We extend a model by Acemoglu et al (2013) developed to explain this phenomenon, and include a measure of natural resource wealth in the government budget […]

06 de abril 2015
Efectos de la Ayuda en el Crecimiento: El Canal Institucional

There is a vast literature that has tried to establish whether there is a relation between foreign aid and economic growth. However, existing theoretical and methodological differences in such literature have not make possible to reach consensus on the results and, therefore, they have established a great debate about the usefulness of aid to promote […]