GRIPECan 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. […]