Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - In: European Economic Review 66 (2014) C, pp. 226-247
This paper investigates the impact of violent civil conflicts during the process of democratization on the institutional quality of the emerging democracies. We propose a theory of endogenous regime transition in which violent conflict can arise in equilibrium. Peaceful transitions lead to a...