How do aggregate wealth-to-income ratios evolve in the long run and why? We address this question using 1970 … able to extend our analysis as far back as 1700. We find in every country a gradual rise of wealth-income ratios in recent … growth, in line with the β=s/g Harrod-Domar-Solow formula. That is, for a given net saving rate s= 10%, the long run wealth-income …

Acemoglu, Johnson, Robinson and Yared (2008) document that the cross-country correlation between income per capita and … democracy disappears once including country fixed effects. This paper tests the hypothesis that the effect of income on … framework provides evidence for significant but heterogeneous effects of income on democracy for former colonies and non …

second stage suggest that every one percent increase in trade (relative to GDP) raises income per capita by roughly 1/3 of a …

civil war is spurious, and is accounted for by historical phenomena that jointly determine income evolution and conflict. In … particular, the statistical association between poverty, as proxied by income per capita, and civil wars disappears once we …