components in the development of the continent: law, democracy and quality of government. Political regimes of democracy, polity …-stability, regulation quality and rule of law. Findings indicate democracy has an edge over autocracy while the later and polity overlap. A … democracy that takes into account only the voice of the majority is better in government quality than autocracy, while a …

, which focuses on how democracy, polity and autocracy affect financial development dynamics of depth, efficiency, activity … financial intermediary depth, activity and size. Democracy has important effects on the degree of competition for public offices …-law counterparts. (5) There is evidence of a U-shape relationship between national wealth and the level of democracy, with Low …

welfare theory and since then mathematicians have been damaging democracy. My book Voting Theory for Democracy (VTFD) tries to …Economic theory needs a stronger defence against unwise application of mathematics. Mathematicians are trained for … pupils and students, in finance by neglecting real world risks that contribute to a world crisis, or in voting theory where …

. Design/methodology/approach – The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology …. Channels of democracy, polity and autocracy are instrumented with legal-origins, religious-legacies, income-levels and press … broadly demonstrate that democracy improves investigated stock market performance dynamics. Practical implications – As a …

This is paper is a natural extension of Yang (2011) where-in democracy is not positively related to stock market … development. We postulate that when moment conditions of stock market performance are accounted for, democracy improves financial … markets in developing countries. Channels of democracy, polity and autocracy are instrumented with legal-origins, religious …