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 […]

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 […]

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. […]

Abstract: While conventional wisdom views divisiveness as an obstacle to engagement among individuals belonging to different ideological camps, this article examines a mechanism that relies on such differences. In a […]