AbstractWe combine Acemoglu and Robinson’s model of the economic origins of democracy with Lohmann’s model of political mass protest. This allows us to analyze the economic causes of political regime change based on the microfoundations of revolution. We are able to derive conditions under which democracy arises peacefully, when it occurs only after a revolution, and when oligarchy persists. We model these possibilities in a world of asymmetric information where information cascades are possible, and where these cascades may involve errors in the sense that they make everyone worse off.
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Bibliographic InfoPaper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 10-03.
Length: 35 pages
Date of creation: Jan 2010
Date of revision:
Democracy; Information Cascades; Revolution;
Find related papers by JEL classification:
- H0 - Public Economics - - General
- P4 - Economic Systems - - Other Economic Systems
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-13 (All new papers)
- NEP-CDM-2010-03-13 (Collective Decision-Making)
- NEP-CTA-2010-03-13 (Contract Theory & Applications)
- NEP-POL-2010-03-13 (Positive Political Economics)
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