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Hobbes to Rousseau: Inequality, Institutions and Development

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Author Info
Matteo Cervellati
Piergiuseppe Fortunato
Uwe Sunde

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Abstract

This article studies the endogenous evolution of economic and political institutions and the interdependencies with the process of economic development. Favourable economic institutions in the form of a state of law and absence of societal conflict arise in equilibrium. Democracies are neither necessary nor sufficient to implement a state of law, even if they may be instrumental. Efficient oligarchies can emerge and persist supported by the consensus of all groups. A taxonomy of politico-economic equilibria shows the endogenous evolution of institutions depending on economic inequality and natural resource abundance, implying a non-monotonic relationship between inequality and institutional quality. Copyright © The Author(s). Journal compilation © Royal Economic Society 2008.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2008.02173.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 118 (2008)
Issue (Month): 531 (08)
Pages: 1354-1384
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Handle: RePEc:ecj:econjl:v:118:y:2008:i:531:p:1354-1384

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Clark, Gregory, 2002. "Land rental values and the agrarian economy: England and Wales, 1500 1914," European Review of Economic History, Cambridge University Press, vol. 6(03), pages 281-308, December. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Graziella Bertocchi, 2007. "The Comparative Evolution of Bequest Taxation in Historical Perspective," Center for Economic Research (RECent) 005, University of Modena and Reggio E., Dept. of Economics. [Downloadable!]
  2. Gradstein, M., 2007. "Institutional Traps and Economic Growth," Cambridge Working Papers in Economics 0769, Faculty of Economics, University of Cambridge. [Downloadable!]
  3. Uwe Sunde & Matteo Cervellati & Piergiuseppe Fortunato, 2007. "Are All Democracies Equally Good? The Role of Interactions between Political Environment and Inequality for Rule of Law," IZA Discussion Papers 2984, Institute for the Study of Labor (IZA). [Downloadable!]
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  4. Uwe Sunde, 2006. "Wirtschaftliche Entwicklung und Demokratie: Ist Demokratie ein Wohlstandsmotor oder ein Wohlstandsprodukt?," IZA Discussion Papers 2244, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  5. Graziella Bertocchi, 2007. "The Vanishing Bequest Tax: The Comparative Evolution of Bequest Taxation in Historical Perspective," IZA Discussion Papers 2578, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  6. Luis Angeles, 2008. "Democratization as a cost-saving device," Working Papers 2008_31, Department of Economics, University of Glasgow. [Downloadable!]
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This page was last updated on 2009-12-8.

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