Economic and Political Institutions and Development

This book focuses on the role of economic and political institutions in economic development. The book offers fresh perspectives on the issues facing less-developed countries and the elements influencing their outcomes. The text includes chapters on democ

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conomic and Political Institutions and Development

Economic and Political Institutions and Development

Joshua C. Hall • Sara Harper Editors

Economic and Political Institutions and Development

123

Editors Joshua C. Hall Department of Economics West Virginia University Morgantown, WV, USA

Sara Harper West Virginia University Morgantown, WV, USA

ISBN 978-3-030-06048-0 ISBN 978-3-030-06049-7 (eBook) https://doi.org/10.1007/978-3-030-06049-7 Library of Congress Control Number: 2019933566 © Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

Acknowledgements

We would like to thank the Center for Free Enterprise at West Virginia University for support for this project.

v

Contents

1

The Dictator’s Knowledge Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Charity-Joy Acchiardo

1

2

The Economic Reconstruction of Iraq . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Christopher J. Coyne and Rachel Coyne

21

3

Foreign Intervention and Global Public Bads . . . . . . . . . . . . . . . . . . . . . . . . . . . Christopher J. Coyne and Matt E. Ryan

41

4

Property Rights and Economic Development: The Case of Sub-Saharan African Countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Julie Lohi

61

Oil and Economic Development in the MENA Region: Why Institutions Matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Mohammed Akacem

75

5

6

Do Remittances Promote Financial Inclusion? . . . . . . . . . . . . . . . . . . . . . . . . . . Durga P. Gautam

91

7

The Impact of Democracy on the Transi