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Publications (4)
Journal Article
Reconstructing the financial system in countries affected by violent conflict is crucial to successful and broad-based recovery. Particularly important tasks include: currency reform, rebuilding (or creating) central banks, revitalising the banking sector, and strengthening prudential supervision...
Working Paper
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We argue that the conflicts in the Caucasus are the result of the abrogation by the elite of the earlier, Soviet era, social contract. This process was accompanied by the collapse of the formal economy; evidenced by huge national income compression, falling public goods provision, and growing...
Working Paper
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– Reviving the Social Contract
Contemporary civil wars are rooted in a partial or complete breakdown of the social contract, often involving disputes over public spending, resource revenues, and taxation. A feasible social contract gives potential rebels something akin to a transfer. When this is improbable, and the potential...
Working Paper
pdf
The relationship between an economy's financial sector and the occurrence and resolution of conflict may at first sight appear tenuous. Banking systems, financial regulation and currency arrangements do not appear to be relevant in understanding why nations collapse or why people kill each other...
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