• Mark Roe


Political Instability: Effects on Financial Development, Roots in the Severity of Economic Inequality. Mark Roe and Jordan Siegel, February 3, 2011, Paper. “We here bring forward strong evidence that political instability impedes financial development, with its variation a primary determinant of differences in financial development around the world. As such, it needs to be added to the short list of major determinants of financial development. First, structural conditions first postulated by Engerman and Sokoloff (2002) as generating long-term inequality are shown here empirically to be exogenous determinants of political instability…” Link