Income and democracy: Evidence from system GMM estimates
AbstractDoes higher income cause democracy? Accounting for the dynamic nature and high persistence of income and democracy, we find a statistically significant positive relation between income and democracy for a postwar period sample of up to 150 countries. Our results are robust across different measures of democracy and instrumentation strategies.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 116 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/ecolet
Income; Democracy; Dynamic panel estimators;
Other versions of this item:
- Benedikt Heid & Julian Langer & Mario Larch, 2011. "Income and democracy:Evidence from system GMM estimates," Ifo Working Paper Series Ifo Working Paper No. 118, Ifo Institute for Economic Research at the University of Munich.
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
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