This paper throws new light on the relationship between income and democracy. Using data for 162 countries over 1960-2018, we show that the causal relationship between political and economic development is U-shaped: "intermediate" political regimes significantly lead to inferior economic...

The relationship between economic and political liberalization has received a great deal of attention lately, yet the possibility of a nonlinear relationship and the role of reversals remain largely neglected. Focusing on democratization and financial reform, this paper offers evidence for a...

This paper throws new light on the relationship between income and democracy. Using data for 162 countries over 1960-2018, we show that the causal relationship between political and economic development is U-shaped: "intermediate" political regimes significantly lead to inferior economic...

We use a sample of 144 countries over the period 2003–2013 to investigate the link between democratic institutions and regulatory reforms. Democracy may be conducive to reform, as politicians embrace growth-enhancing reforms to win elections. On the other hand, authoritarian regimes may not...

We use a sample of 147 countries to investigate the link between democracy and reforms. Democracy may be conducive to reform, because politicians have the incentive to embrace growth-enhancing reforms to win elections. On the other hand, authoritarian regimes do not have to worry as much about...

We show that the economic transition has been more successful than the political transformation in the quarter century since the fall of the Berlin Wall. The adoption of strong parliamentarian systems has negated the deleterious effects of religious and imperial history on economic evolution. As...