Europe but accelerate in the US? A consensus is emerging that US institutions foster creative destruction and financial … markets that welcome innovation, while Europe remains under the control of corporatist institutions that dampen competition … and inhibit new entry. Further, Europe lacks a youth culture like that of the US which fosters independence: US teenagers …

policies (1990-98 for roughly 50 countries), this Paper investigates the political economy determinants of privatization and … and cannot be more easily financed by borrowing from the financial market. Democracy appears to affect the pace of reform …

democracy and globalization. A major part deals with the question of whether globalization enhances democracy. The answer is … important since democracy is, on the whole, for specified reasons likely to enhance poverty reduction. …

This Paper looks at the historical evolution of the relationship between an economy’s structure and the corresponding … law of inheritance evolves from primogeniture to equal partition, as the primary source of wealth shifts from land to …

increase by 10–30% were Mexico to attain a level of democracy comparable to that prevailing in the United States. …

democracy disappears once including country fixed effects. This paper tests the hypothesis that the effect of income on … democracy might differ systematically across countries. A replication of the estimation in a less restrictive empirical … framework provides evidence for significant but heterogeneous effects of income on democracy for former colonies and non …