Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - Institute for the Study of Labor (IZA) - 2005
We analyze the endogenous evolution of economic and political institutions and the interdependencies with the process … of economic development. Favorable economic institutions ensure the appropriability of rents in form of a state of law … necessary. Inequality in endowments and incomes prolongs the absence of good institutions and delays democratization. Conversely …