Development

George Stigler posited that economic regulation is best understood as a product created via a market process. In the market for regulation, different participants—such as politicians, firms, and voters—buy and sell the rules of the game to serve their individual interests. In new research, Jac Heckelman and Bonnie Wilson use Stigler’s theory of economic regulation and special interest capture to study why foreign aid to developing countries that is tied to market reform has not successfully accomplished its goals.

The return of Luiz Inácio Lula da Silva as president of Brazil accompanies a renewed emphasis on sustainability. However, discrepancies in his rhetoric and the policy of his administration reveals a rift between the administration’s twin goals of sustainability and economic development, writes Stephanie Tondo

In 1949, the innovative French economist and policymaker Jean Fourastié introduced a theory of growth and technological development that economists could still use today,...

Competition contributes to economic growth, and promoting competition law enforcement will enhance the growth prospects of developing countries. However, developing countries ought to tailor...

The Covid-19 pandemic has decimated livelihoods in developing nations, and coronavirus-related deaths are rising in Africa and South Asia at an alarming rate. How...

A new study of World Bank data finds that aid disbursement to highly aid-dependent countries coincides with sharp increases in bank deposits in offshore...

ProMarket’s picks for the best podcasts covering economics, finance, and political economy. HBR Ideacast: Esther Duflo In this episode of the Harvard Business Review's weekly HBR...

In his review of Paul Collier’s recent book The Future of Capitalism, Branko Milanovic discusses ideology, social democracy, and the "ethical world."     Paul Collier’s...

Workers in emerging economies benefitted from globalization and workers in rich countries, on balance, did not. Overturning globalization, however, will neither work nor bring...

The European Economic Association has announced that this year’s Hicks Tinbergen medal will go to ProMarket editor and Stigler Center faculty director Luigi Zingales...