The implications of poor management in developing countries are becoming well known, but what drives these differences is less clear. Based on large new surveys in Mexico and the US, this column argues that misallocation is a key driver of these differences. Frictions from low competition and weak rule of law appear to lie behind the difficulties even well-managed firms in
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Human progress is driven by a variety of causes, including human decision-making. The Intergovernmental Panel on Climate Change (IPCC) utilizes carbon dioxide (CO2) emission scenarios to envisage and assess “a range of probable futures”.