Income and Democracy: A Comment on Acemoglu, Johnson, Robinson, and Yared (2008)
AbstractAcemoglu, Johnson, Robinson, and Yared (2008) demonstrate that estimation of the standard adjustment model with country-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their empirical approach must produce insignificant income effects and that a small change in the estimation process immediately reveals the strong effect of income on democracy.
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Bibliographic InfoPaper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 2008-13.
Date of creation: 15 Oct 2008
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Web page: http://www.econ.au.dk/afn/
Democracy; Modernization hypothesis; fixed-effects estimation;
Other versions of this item:
- Erich Gundlach & Martin Paldam, 2008. "Income and Democracy. A Comment on Acemoglu, Johnson, Robinson, and Yared (2008)," Kiel Working Papers 1458, Kiel Institute for the World Economy.
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-10-21 (All new papers)
- NEP-ECM-2008-10-21 (Econometrics)
- NEP-POL-2008-10-21 (Positive Political Economics)
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