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Consensual and Conflictual Democratization

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  • Cervellati Matteo

    ()
    (Department of Economics University of Bologna)

  • Fortunato Piergiuseppe

    ()
    (UNCTAD)

  • Sunde Uwe

    ()
    (University of Munich)

Abstract

This paper studies the interactions between democratization and the emergence of rule of law. We propose a model in which heterogeneous individuals can make costly investments to protect their income against expropriation. The public enforcement of property rights is chosen by the enfranchised population whose composition depends on the political regime in place. We characterize the politico-economic equilibria in terms of property rights protection and political regime, and study the role of the different scenarios of democratization. The results suggest: (i) unequal control of natural resources is a central structural determinant of the democratization scenario; (ii) democratic transitions under conflict may lead to failed democracies with poor rule of law; (iii) that democratic transitions supported by a large consensus may serve as a coordination device thereby leading to better protection of property rights and more stable polities.

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Bibliographic Info

Article provided by De Gruyter in its journal The B.E. Journal of Theoretical Economics.

Volume (Year): 12 (2012)
Issue (Month): 1 (December)
Pages: 1-51

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Handle: RePEc:bpj:bejtec:v:12:y:2012:i:1:p:1-51:n:31

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Cited by:
  1. Uwe Sunde, 2006. "Wirtschaftliche Entwicklung und Demokratie - Ist Demokratie ein Wohlstandsmotor oder ein Wohlstandsprodukt?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 7(4), pages 471-499, November.
  2. Cervellati, Matteo & Fortunato, Piergiuseppe & Sunde, Uwe, 2011. "Democratization and Civil Liberties: The Role of Violence During the Transition," IZA Discussion Papers 5555, Institute for the Study of Labor (IZA).
  3. Roger Lagunoff, 2007. "Markov Equilibrium in Models of Dynamic Endogenous Political Institutions," Levine's Bibliography 122247000000000876, UCLA Department of Economics.
  4. Jinhui Bai & Roger Lagunoff, 2008. "On the 'Faustian' Dynamics of Policy and Political Power," Working Papers gueconwpa~08-08-02, Georgetown University, Department of Economics.
  5. Buchheim, Lukas & Ulbricht, Robert, 2014. "Emergence and Persistence of Extreme Political Systems," TSE Working Papers 14-464, Toulouse School of Economics (TSE).
  6. Roger Lagunoff, 2004. "The Dynamic Reform of Political Institutions," Working Papers gueconwpa~04-04-07, Georgetown University, Department of Economics.
  7. Gradstein, Mark, 2007. "Institutional Traps and Economic Growth," CEPR Discussion Papers 6414, C.E.P.R. Discussion Papers.
  8. Matteo Cervellati & Piergiuseppe Fortunato & Uwe Sunde, 2008. "Hobbes to Rousseau: Inequality, Institutions and Development," Economic Journal, Royal Economic Society, vol. 118(531), pages 1354-1384, 08.
  9. Cervellati, Matteo & Fortunato, Piergiuseppe & Sunde, Uwe, 2014. "Violence during democratization and the quality of democratic institutions," European Economic Review, Elsevier, vol. 66(C), pages 226-247.
  10. Gradstein, M., 2007. "Institutional Traps and Economic Growth," Cambridge Working Papers in Economics 0769, Faculty of Economics, University of Cambridge.

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