Shaping Africa’s Post-Covid Recovery
With the exception of some flashpoints in Northern and Southern Africa, the continent has been largely spared from the direct health effect of Covid...
Stake-holder Firms and the Reform of Local Public Finance in China
Since 1978 China has developed strongly using a particular form of capitalism which has relied upon close relations between private enterprise and the...
Welfare Costs of Catastrophes: Lost Consumption and Lost Lives
The Economic Journal, 131 (634), 946–969
Managerial Response to Shareholder Empowerment: Evidence from Majority- voting Legislation Changes
This paper studies how managers react to shareholder empowerment that makes the votes on shareholder proposals regarding majority-voting director...
The Systemic Governance Influence of Universal Owners: Evidence From an Expectation Document
Universal owners - large institutional investors with highly diversified and long-term portfolios spanning the entire global capital market - have...
Lending Cycles and Real Outcomes: Costs of Political Misalignment
We use data on the universe of credit in Turkey to document a strong political lending cycle. State-owned banks systematically adjust their lending...
As COVID rages, bankruptcy cases fall
Bankruptcies have fallen sharply in OECD economies because of the array of COVID-related support available to businesses, as well as imposed moratoria...
Moral hazard, the fear of the markets, and how central banks responded to Covid-19
While the direct economic consequences of Covid-19 have been significant, the impact on the financial markets has been more nuanced. This column uses...
Do Gendered Laws Matter?
We use a 50-year panel of gendered laws for 190 countries to examine whether laws and legal change are associated with several measures of women’s...
Identifying and boosting “Gazelles”: Evidence from business accelerators
Journal of Financial Economics, 139 (1), 260-287
Revenge of the experts: Will COVID-19 renew or diminish public trust in science?
Journal of Public Economics, Volume 193, 2021,104343.
