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Income and democracy:Evidence from system GMM estimates

  • Benedikt Heid
  • Julian Langer
  • Mario Larch

Does higher income cause democracy? Accounting for the dynamic nature and highpersistence of income and democracy, we find a statistically significant positive relationbetween income and democracy for a postwar period sample of up to 150 countries. Ourresults are robust across different model specifications and instrument sets.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-Ifo_Working_Papers/wp-ifo-2011/IfoWorkingPaper-118.pdf
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Paper provided by Ifo Institute for Economic Research at the University of Munich in its series Ifo Working Paper Series with number Ifo Working Paper No. 118.

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Date of creation: 2011
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Handle: RePEc:ces:ifowps:_118
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  1. M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers dp0007, Centre for Economic Performance, LSE.
  2. David Roodman, 2009. "How to do xtabond2: An introduction to difference and system GMM in Stata," Stata Journal, StataCorp LP, vol. 9(1), pages 86-136, March.
  3. Daron Acemoglu & Simon Johnson & James A. Robinson & Pierre Yared, 2008. "Income and Democracy," American Economic Review, American Economic Association, vol. 98(3), pages 808-42, June.
  4. Erich Gundlach & Martin Paldam, 2008. "A farewell to critical junctures: Sorting out long-run causality of income and democracy," Economics Working Papers 2008-04, School of Economics and Management, University of Aarhus.
  5. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
  6. Acemoglu, Daron & Johnson, Simon & Robinson, James A & Yared, Pierre, 2007. "Reevaluating the Modernization Hypothesis," CEPR Discussion Papers 6430, C.E.P.R. Discussion Papers.
  7. Gabriel Felbermayr & Jasmin Gröschl, 2011. "Within US Trade and the Long Shadow of the American Secession," Ifo Working Paper Series Ifo Working Paper No. 117, Ifo Institute for Economic Research at the University of Munich.
  8. David Roodman, 2007. "A Note on the Theme of Too Many Instruments," Working Papers 125, Center for Global Development.
  9. Barro, Robert J., 1999. "Determinants of Democracy," Scholarly Articles 3451297, Harvard University Department of Economics.
  10. Decio Coviello & Matteo Bobba, 2006. "Weak instruments and weak identification in estimating the effects of education on democracy," IDB Publications (Working Papers) 6698, Inter-American Development Bank.
  11. Windmeijer, Frank, 2005. "A finite sample correction for the variance of linear efficient two-step GMM estimators," Journal of Econometrics, Elsevier, vol. 126(1), pages 25-51, May.
  12. Jess Benhabib & Alejandro Corvalan & Mark M. Spiegel, 2011. "Reestablishing the Income-Democracy Nexus," NBER Working Papers 16832, National Bureau of Economic Research, Inc.
  13. Steve Bond, 2002. "Dynamic panel data models: a guide to microdata methods and practice," CeMMAP working papers CWP09/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  14. Enrique Moral-Benito & Cristian Bartolucci, 2011. "Income and Democracy: Revisiting the Evidence," Carlo Alberto Notebooks 204, Collegio Carlo Alberto.
  15. 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.
  16. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-54, July.
  17. Alonso-Borrego, Cesar & Arellano, Manuel, 1999. "Symmetrically Normalized Instrumental-Variable Estimation Using Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(1), pages 36-49, January.
  18. Daniel Treisman, 2011. "Income, Democracy, and the Cunning of Reason," NBER Working Papers 17132, National Bureau of Economic Research, Inc.
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