Main Publications

Corporate Control around the World (with G. Aminadav). April 2018 [revised draft of NBER WP 23010, 2016]

Journal of Finance, forthcoming

[paper] [supplementary appendix] [country-example-appendix] [data & codes]

Regional Transfer Multipliers (with R. Corbi and P. Surico),

Review of Economic Studies, forthcoming [CEPR DP 13304. November 2018]

[paper & Appendix] [summary] [data & codes]

Historical Legacies and African Development (with S. Michalopoulos).

Journal of Economic Literature, forthcoming [NBER WP 25278], November 2018.

[paper] [summary]

The European Trust Crisis and the Rise of Populism (with Y. Algan, S. Guriev, and E. Passari).

Brooking's Papers on Economic Activity, 2018. [presented in the Fall 2017 Meetings]

[paper] [figures] [appendix] [discussion] [data and programs] [review from VOX] [FT, WSJ, and FOX-Business summaries] [summary in Kathimerini (Greek)]

Spatial Patterns of Development: A Meso Approach. (with S. Michalopoulos).

Annual Review of Economics, 10: 383-410. August 2018. [NBER WP 24088]


Long-Run Effects of the Scramble for Africa (with S. Michalopoulos),

American Economic Review, July 2016, 106(7). 1802-1848.

[paper] [Supplementary Appendix] [review from Freakonomics Blog, from VOX, from the AEA, and from Project Syndicate]

Ethnic Inequality (with A. Alesina and S. Michalopoulos),

Journal of Political Economy, April 2016, 124(2): 428-488.

[paper] [Supplementary Appendix] [data-programs] [maps/figures/graphs]

[review from the Economist] [review from VOX]

On the Ethnic Origins of African Development: Traditional Chiefs and Precolonial Political Centralization (with S. Michalopoulos)

Academy of Management Perspectives, February 2015, 29(1): 32-71.


National Institutions and Sub-national Development in Africa, (with S. Michalopoulos).

Quarterly Journal of Economics, February 2014, 129(1): 151-213

[paper] [Supplementary Appendix] [data-programs] [maps/figures/graphs] [Presentation/slides]

[review from VOX] [interview Deloitte Institute for Innovation and Entrepreneurship]

[This paper replaces Divide and Rule or the Rule of the Divided? Evidence from Africa; NBER WP 17184 and National Institutions and Development: Evidence from Partitioned Ethnicities; NBER WP 18275]

Financial Regulation, Financial Globalization, and the Synchronization of the Economic Activity (with S. Kalemli-Ozcan and J.-L. Peydro)

Journal of Finance, June 2013, 68(3): 1179-1220.

[paper] [Latest Presentation] [Supplementary Appendix: FSAP Directives] [FSAP Directives - Data in MS Excel]

[reviews from VOX and the Harvard College Economics Review] [See also IMF World Economic Outlook, October 2013, Chapter 3.]

Global Banks and Crisis Transmission (with S. Kalemli-Ozcan and F. Perri).

Journal of International Economics, March 2013, 89(2): 495-510.

[paper] [review from Minneapolis Fed Region] [review from VOX] [extended and updated results from IMF WEO October 2013, Chapter 3]

Precolonial Ethnic Institutions and Contemporary African Development (with S. Michalopoulos)

Econometrica, January 2013, 81(1): 113-152.

[paper] [Supplementary Appendix] [[data-programs] [maps/figures] [reviews from VOX and the Wall Street Journal]

[see also Further Evidence on the Link between Precolonial Political Centralization and Contemporary African Development, Economic Letters, January 2015, 126(1): 57-62. [paper]]

What Lies Beneath the Euro’s Effect on Financial Integration? Currency Risk, Legal Harmonization, or Trade? (with S. Kalemli-Ozcan and J.-L. Peydro);

Journal of International Economics, May 2010, 81(1): 75-88.

[paper] [Supplementary Appendix 1: FSAP Directives] [Appendix 2: Additional Sensitivity Checks] [FSAP Directives - Data in MS Excel]

[review from VOX]

What Drives International Financial Flows? Politics, Institutions and Other Determinants.

Journal of Development Economics, March 2009, 88(2): 269-281.

[paper] [Supplementary Appendix]

Human Capital, the Structure of Production, and Economic Growth (with A. Ciccone).

Review of Economics and Statistics, February 2009, 91(2): 66-82.

[paper] [Supplementary Appendix] [dataset] [programs] [see also CEPR DP 5969 for additional sensitivity checks in an alternative dataset]

Democratization and Growth (with G. Siourounis)

Economic Journal. October 2008, 118(10): 1520-1551.

[paper] [Supplementary Appendix] [data] [programs]

This paper was recognized with the Young Economist Award 2005 from the European Economic Association.

This paper was recognized with the 2008 Austin Robinson Memorial Prize from the Royal Economic Society.

[Review from VOX, the Royal Economic Society Press Release, the New York Times Economix, and the Winter 2009 Research Bulletin of the Federal Reserve of Richmond.]

Economic and Social Factors Driving the Third Wave of Democratization (with G. Siourounis)

Journal of Comparative Economics, September 2008, 36(3): 365-387.

[paper] [Supplementary Appendix; Country Details] [data] [programs]

Red Tape and Delayed Entry (with A. Ciccone)

Journal of the European Economic Association (Papers and Proceedings), April-May 2007, 5(2-3): 444-458.

[paper] [Supplementary Appendix]

Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar (with R. Portes and G. Siourounis)

Journal of the Japanese and International Economics, December 2006, 20(4): 508-547.

[paper] [review from the NBER Digest and VOX]