season10

Abstract: The energy transition has created a global rush for critical minerals that are indispensable for the manufacturing of "green" technology, such as electric vehicles, solar panels, and wind turbines. Critical minerals are predominantly mined, however, on land that is proximate to vulnerable communities, and in developing countries. The environmental toll imposed by mining thus […]

Abstract: Sovereign default and restructurings should, in theory, lead to creditor punishment through higher borrowing costs or capital market exclusion. However, empirical evidence shows that punishment is inconsistent and not uniform across defaulters. We argue that this disconnect can be explained by examining the role of geopolitical relationships, particularly with the United States, in shaping […]

Can foreign aid expand fiscal capacity? Drawing on principal–agent theory, I argue that foreign aid builds capacity when the interests of the donor and the political leadership of the recipient state are aligned and when aid administrators in the recipient’s bureaucracy face high-powered incentives to exert effort toward the mission’s goal. Using history as a […]