Welcome new members

We would like to welcome the following new members of the InsTED network.

Prof Scott L. Baier (Clemson University)   His research centers on International Trade, Economic Growth and Development, and Applied Econometrics.

Prof Kristy Buzard (Syracuse University)  Her current research focuses on the formation and maintenance of trade agreements, and on international trade theory and contract theory more generally.

Prof Inmaculada Martínez-Zarzoso (University of Goettingen)   Her research interests include International Trade, Environmental Economics, Development Economics, and Applied Econometrics.

Lorenzo Rotunno  (University of Oxford) His primary research interests are in International Trade and Political Economy.


Why the West Rules — for Now

Sometime around 1750, English entrepreneurs unleashed the astounding energies of steam and coal, and the world was forever changed. The emergence of factories, railroads, and gunboats propelled the West’s rise to power in the nineteenth century, and the development of computers and nuclear weapons in the twentieth century secured its global supremacy. Now, at the beginning of the twenty-first century, many worry that the emerging economic power of China and India spells the end of the West as a superpower. In order to understand this possibility, we need to look back in time. Why has the West dominated the globe for the past two hundred years, and will its power last?… [Publisher’s book website]

Author’s book website

Book review in The Economist, October 2010

Book review by George Walden in The Guardian, January 2011

Book review by Dr Ricardo Duchesne in Reviews in History (review no.1091)

Book review by Orville Schell in The New York Times, December 2010

Book review by Jonathan Healey

Exodus: Immigration and Mulitculturalism in the 21st Century

Mass international migration is a response to extreme global inequality, and immigration has a profound impact on the way we live. Yet our views – and those of our politicians – remain caught between two extremes: popular hostility to migrants, tinged by xenophobia and racism; and the view of business and liberal elites that ‘open doors’ are both economically and ethically imperative. With migration set to accelerate, few issues are so urgently in need of dispassionate analysis – and few are more incendiary.Here, world-renowned economist Paul Collier seeks to defuse this explosive subject. Exodus looks at how people from the world’s poorest societies struggle to migrate to the rich West: the effects on those left behind and on the host societies, and explores the impulses and thinking that inform Western immigration policy. Migration, he concludes, is a fact, and we urgently need to think clearly about its possibilities and challenges: it is not a question of whether migration is good or bad, but how much is best?Paul Collier is Professor of Economics and Director of the Centre for the Study of African Economies at Oxford University and a former director of Development Research at the World Bank. He is the author of, among others, the award-winning The Bottom Billion and The Plundered Planet.  [Publisher’s book website]

Book review by Rupert Edis in The Telegraph, November 2013

Book review by Ian Birrell in The Guardian, November 2013

Book review by Kenan Malik in The Independent, October 2013

Book review by Geoffrey Cameron in Migration Studies, 1 (3): 375-377, November 2013

Security and rule of law strategic research fund: employment for stability

The call Strategic Research Fund: Employment for Stability provides funding for strategic research that investigates the correlation between employment and stability in a specific set of fragile or conflict affected Low and Middle Income Countries (LMICs), or for research into the key drivers and challenges determining employment strategies of the private sector in these countries. The main applicant should be employed as a senior researcher at one of the research organisations (worldwide) involved.

Closing date 12 May 2014

Funder’s website

Income Inequality and Political Stability

Partly prompted by the recent financial crisis, a debate has resurfaced about the implications of inequality and political instability for prosperity.  One strand of this literature, associated with Lewis (1955) and Kaldor (1956), argues that higher inequality is beneficial for growth because wealthier groups hold the resources necessary for investment.  Another strand, which is the focus of this post, shows that the channel through which inequality affects growth is political.  In an unstable political environment, which can be created by high income inequality, investment is discouraged by a higher risk of expropriation and voters’ preferences towards redistributional policies, both of which affect growth adversely.

Alesina, A. and R. Perotti (1996) “Income Distribution, Political Instability, and InvestmentEuropean Economic Review, 40(6): 1203-1228. [Working paper version]

Bénabou, R. (2000) “Unequal Societies: Income Distribution and The Social Contract” The American Economic Review, 90(1): 96–129. [Working paper version]

Bourguignon, F. and T. Verdier (2000) “Oligarchy, Democracy, Inequality and GrowthJournal of Development Economics, 62(2): 285–313.

Campante, F. R. (2011) “Redistribution in a Model of Voting and Campaign Contributions” Journal of Public Economics, 95(7-8): 646-656. [Working paper version]

Cosgel, M., A. B. Ergene (2012) “Inequality of Wealth in the Ottoman Empire: War, Weather, and Long-Term Trends in Eighteenth-Century KastamonuJournal of Economic History, 72(2): 308-331. [Working paper version]

Galor, O. (2009) “Inequality and Economic Development: An OverviewMimeo.

Persson, T. and G. Tabellini (1994) “Is Inequality Harmful to Growth?American Economic Review, 84(3): 600-621. [Working paper version]

Saint-Paul, G., and T. Verdier (1993), “Education, Democracy and GrowthJournal of Development Economics 42: 399-407. [Working paper version]

Woo, J. (2009) “Why Do More Polarized Countries Run More Procyclical Fiscal Policy?” Review Of Economics And Statistics, 91(4): 850-870.

XII ELSNIT Annual Conference – IDB

The Euro-Latin Network on Integration and Trade (ELSNIT) is now accepting submissions of papers examining the impact of product market regulation on cross-border trade and investment and regional integration. The aim of the conference is to promote contributions from analysts and practitioners from different academic disciplines (economics, law, political science, business). Papers may focus on economic, institutional, or social dimensions of approaches to identifying and addressing the market-segmenting effects of regulatory policies, and may be empirical or normative.

The deadline for submissions is April 30, 2014.

Conference website