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Evolution of Risk and Political Regimes

  • Maria Petrova
  • Robert H. Bates

The article contributes to the growing literature on intermediate regiimes by presenting a model that incorporates key features of such regimes and generates several of the "stylized facts" that characterize their behavior: their political volatility, cross nationality and over time, and the veriability of their economic performance something that renders their economies among the fastest growing and declining in global samples. Using an instrumental veriables approach, we test the model employing cross-national data.

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Article provided by Wiley Blackwell in its journal Economics & Politics.

Volume (Year): 24 (2012)
Issue (Month): 2 (07)
Pages: 200-225

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Handle: RePEc:bla:ecopol:v:24:y:2012:i:2:p:200-225
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  1. Ricardo Hausmann & Lant Pritchett & Dani Rodrik, 2004. "Growth Accelerations," NBER Working Papers 10566, National Bureau of Economic Research, Inc.
  2. Dani Rodrik, 1989. "Policy Uncertainty and Private Investment in Developing Countries," NBER Working Papers 2999, National Bureau of Economic Research, Inc.
  3. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  4. Besley, Timothy J. & Kudamatsu, Masayuki, 2007. "Making Autocracy Work," CEPR Discussion Papers 6371, C.E.P.R. Discussion Papers.
  5. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  6. William Easterly & Michael Kremer & Lant Pritchett & Lawrence H. Summers, 1993. "Good Policy or Good Luck? Country Growth Performance and Temporary Shocks," NBER Working Papers 4474, National Bureau of Economic Research, Inc.
  7. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," NBER Working Papers 10568, National Bureau of Economic Research, Inc.
  8. Eric Friedman & Simon Johnson & Peter Boone & Alasdair Breach, 1999. "Corporate Governance in the Asian Financial Crisis," Departmental Working Papers 199920, Rutgers University, Department of Economics.
  9. Bengt Holmstrom, 1979. "Moral Hazard and Observability," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
  10. Boix, Carles & Svolik, Milan, 2009. "The Foundations of Limited Authoritarian Government: Institutions and Power-Sharing in Dictatorships," Papers 10-21-2009b, Princeton University, Research Program in Political Economy.
  11. Sundadam, R.K. & Banks, J., 1991. "Adverse Selection and Moral hazard in a Repeated Elections Models," RCER Working Papers 283, University of Rochester - Center for Economic Research (RCER).
  12. Pritchett, Lant, 2000. "Understanding Patterns of Economic Growth: Searching for Hills among Plateaus, Mountains, and Plains," World Bank Economic Review, World Bank Group, vol. 14(2), pages 221-50, May.
  13. Jerzmanowski, Michal, 2006. "Empirics of hills, plateaus, mountains and plains: A Markov-switching approach to growth," Journal of Development Economics, Elsevier, vol. 81(2), pages 357-385, December.
  14. repec:tpr:qjecon:v:120:y:2005:i:3:p:835-864 is not listed on IDEAS
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