“A Whirligig of Revolutionary Presidents”: state capacity, political stability, and business in Haiti, 1905–1927
研究海地1905-1927年间政治不稳定的突然结束如何影响外国企业数量，发现1915年美国干预后企业数量迅速增加，原因是不确定性降低和对行政权力掌控者的信任增强。
Abstract Political instability in developing countries can be detrimental to the business environment. I examine how a sudden end to instability affected businesses in Haiti from 1905 to 1927. In 1915, after a tumultuous 4 years that saw seven different men serve as president, US Marines landed in Haiti and ended the conflict. Using new data on foreign-owned businesses operating in Haiti, I show that the number of foreign businesses increased rapidly after the end of instability. I present evidence that the businesses responded to lower uncertainty and increased trust in who held the executive power.