Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - Volkswirtschaftliche Fakultät, … - 2012
This paper studies the interactions between democratization and theemergence of rule of law. We propose a model in which heterogeneousindividuals can make costly investments to protect their income againstexpropriation. The public enforcement of property rights is chosen bythe enfranchised...