Regimes controlled by a rich elite often collapse and make way for democracy amidst widespread social unrest. Such regime changes are often followed by redistribution to the poor at the expense of the former elite. We argue that the reason why the elite may have to resort to full-scale democratization, despite its apparent costs to themselves, may be that lesser concessions would be viewed as a sign of weakness, spurring further unrest and more radical demands. The elite may therefore be forced to choose between repression and the most generous concession, a transition to full democracy.
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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number
2278.
Find related papers by JEL classification: D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
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