It Takes Two: An Explanation of the Democratic Peace
AbstractIn this Paper, we provide an explanation of the democratic peace hypothesis, i.e., the observation that democracies rarely fight one another. We show that in the presence of information asymmetries and strategic complements, the strategic interaction between two democracies differs from any other dyad. In our model, two democracies induce the highest probability of peaceful resolution of conflicts. But it takes two for peace; one democracy involved in a conflict does not necessarily increase the probability of a peaceful resolution compared to a conflict between two non-democratic regimes.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3947.
Date of creation: Jun 2003
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Other versions of this item:
- Gilat Levy & Ronny Razin, 2004. "It Takes Two: An Explanation for the Democratic Peace," Journal of the European Economic Association, MIT Press, vol. 2(1), pages 1-29, 03.
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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