IDEAS home Printed from https://ideas.repec.org/a/eme/jespps/v36y2009i2p184-194.html
   My bibliography  Save this article

Institutions and economic volatility: democracy versus risk of expropriation

Author

Listed:
  • Vladimir Ponczek
  • Enlinson Mattos

Abstract

Purpose - The purpose of this paper is to decompose the effects of democracy and risk of expropriation on economic volatility. Design/methodology/approach - The authors follow Acemougluet al.and use settler mortality in former colonies in the seventeenth, eighteenth and nineteenth centuries as an instrument of “risk of expropriation,” in addition to a democracy index to capture institutional effects on economic stability. Findings - The authors present empirical evidence that the economic performance of more centralized former European colonies is not more volatile than that of democratic ones, once the exogenous variation of expropriation risk across countries is included in the model Originality/value - The paper investigates the role of a spectrum of different institutions on economic stability. In this sense, the paper contributes to the literature analyzing the effect of property‐rights protection, as measured by a risk‐of‐expropriation index, on the relation between democracy and economic stability.

Suggested Citation

  • Vladimir Ponczek & Enlinson Mattos, 2009. "Institutions and economic volatility: democracy versus risk of expropriation," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 36(2), pages 184-194, May.
    • Handle: RePEc:eme:jespps:v:36:y:2009:i:2:p:184-194
    DOI: 10.1108/01443580910955060
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/01443580910955060/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/01443580910955060/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/01443580910955060?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Caprio, Gerard & D’Apice, Vincenzo & Ferri, Giovanni & Puopolo, Giovanni Walter, 2014. "Macro-financial determinants of the great financial crisis: Implications for financial regulation," Journal of Banking & Finance, Elsevier, vol. 44(C), pages 114-129.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jespps:v:36:y:2009:i:2:p:184-194. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.