Besley, Timothy; Persson, Torsten; Sturm, Daniel - 2006 - First draft June 2005, this version November 2005
We formulate a model to explain why the lack of political competition may stifle economic performance and use the United States as a testing ground for the model’s predictions, exploiting the 1965 Voting Rights Act which helped break the near monpoly on political power of the Democrats in...