This chapter critically reviews the literature which explains why and under which
circumstances governments accumulate more debt than it would be consistent with optimal …

This paper surveys recent literature, both theoretical and empirical, regarding political
explanations for fiscal deficits. Political economy suggests conflicts of interest may lie behind …

Based on a sample of 76 developing countries over 1990–2019, we assess the effect of
adopting mobile money on consumption volatility using entropy balancing. We reveal that …

This paper explores the impact of high public debt on long-run economic growth. The
analysis, based on a panel of advanced and emerging economies over almost four …

We provide direct empirical evidence in support of instrumental stakeholder theory's
argument that increasing stakeholder support enhances the financial valuation of a firm …

This paper analyses the effects in terms of size and volatility of government revenue and
spending on growth in OECD and EU countries. The results of the paper suggest that both …

We estimate a panel model where the relationship between inequality and GDP per capita
growth depends on countries' initial incomes. Estimates of the model show that the …

The recent global financial crisis has led to an unprecedented increase in public debt across
the world, raising serious concerns about its economic impact. This paper examines the …

A fundamental aspect of institutional design is how much society chooses to delegate
unchecked power to its leaders. If, once elected, a leader cannot be restrained, society runs …

We examine whether fiscal rules' impact on fiscal performance depends on budget
transparency. Using panel data of 73 countries over the 2003–2013 period, we find that …