We examine the impact of "substantially heightened" capital requirements on large financial institutions, and on their customers. Our analysis yields three main conclusions. First, the frictions associated with raising new external equity finance are likely to be... View Details

How do (and how should) governments design fiscal policies to compete in a globalized economy while meeting internal policy priorities including redistribution? In 2009, Governor Arnold Schwarzenegger repeatedly declared fiscal emergencies as California's state budget... View Details

In 2010, the bicentennial anniversary of Mexico's revolution against Spain, President Felipe Calderon hoped he could orchestrate several crucial reforms that Mexico needed. Mexico had not grown much over the course of the last decade, losing competitiveness to China... View Details

We examine the effect of US branch banking deregulations on the entry size of new firms using micro-data from the US Census Bureau. We find that the average entry size for startups did not change following the deregulations. However, among firms that survived at least... View Details

Two alternate visions for shaping and explaining the governance of economic globalization have been in competition for the past 20 years: an ad hoc, laissez-faire vision promoted by the United States versus a managed vision relying on multilateral rules and... View Details

The collapse of central authority in the Soviet Union in 1991 ushered in a period of revolutionary transformations for the states that emerged in its wake. The leaders of Russia, the USSR's successor, since then have struggled to reestablish central authority while... View Details

The world's leading Thai agribusiness corporation and largest agribusiness investor in China, CP Group, is facing another crossroads in China as the country starts to undergo rural reform. The issues at hand for Chairman Dhanin Chearavanont is how CP can balance its... View Details

With the recent announcement from the Chinese government that the country's healthcare system was going to undergo reform, Jiamei Dental Chairman Liu Jia wondered what that meant for his 15 year-old dental clinic business. Founded in 1993, Jiamei Dental Medical... View Details

By mid-2009 Colombian President Alvaro Uribe had ended decades of virtual civil war and strengthened the business climate, but he faced tough economic challenges. Though he had instituted prominent market reforms and brought inflation down sharply, Colombia seemed... View Details

After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory... View Details

This article reviews recent research conducted by the authors that finds that intellectual property rights reform increases technology transfers, foreign direct investment inflows, and industrial development. It also places the findings of this work in the broader... View Details

We present a survey of recent contributions in empirical organizational economics, focusing on management practices and decentralization. Productivity dispersion between firms and countries has motivated the improved measurement of firm organization across industries... View Details

Particularly since the 1960s, the federal government has played a significant role in financing disaster losses in the United States. The federal government may thus be thought of as providing an implicit form of public disaster insurance. However, unlike many... View Details

Teaching Note for [910405]. View Details

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details

European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details