Hoeffler, Anke; Bates, Robert H.; Fayad, Ghada - International Monetary Fund (IMF) - 2012
We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using … dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relationship between income and … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …