threat of revolution. Initially, a ruling elite may be able to use trade policy to maintain political stability. But a world … of national income per capita and democracy may not be positively correlated. The model is also useful for understanding …

This paper develops a new model of trade policy under dictatorship and democratization. The paper makes two … by studying the endogenous interaction between the form of government and trade policy. The paper's second contribution … is to show how a dictatorship can manipulate trade policy to maintain its grip on power in the face of permanent world …

to democracy and vice versa (consistent with the recent theoretical work by Acemoglu and Robinson) but, unlike older … significant policy implications - it increases the volatility of both trade and fiscal policies. Furthermore, policy volatility …

At least since 1750 when Baron de Montesquieu declared “peace is the natural effect of trade,” a number of economists … and political scientists espoused the notion that trade among nations leads to peace. Employing resources more efficiently … comparative advantage leads to gains from trade. If political conflict leads to a diminution of trade, then at least a portion of …

Much recent political economy and political science literature views democracy in terms of political rights. This view …, often referred to as electoral democracy, is particularly pronounced in the empirical literature. We reincorporate the role … of civil liberties, which are at the core of modern democracy, in two ways. We identify four fundamental sources of …