there exists a distribution of resources such that democracy emerges in equilibrium, but there are distributions of … resources for which democracy is infeasible in equilibrium irrespective of the level of development. The model also delivers … results on the stability of democracy with regard to changes in the economic and demographic environment. The results are …

because typically in Africa, ‘good economics’ has proved not to be politically feasible. In this Paper we suggest that good …

Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin … America after 1820 and most of Africa after 1960. Despite the distance in time and space, they share important similarities … about a half-century (lost decades). The parallels suggest that Africa might be exiting from a period of post …

This paper investigates the endogenous emergence of democracy and rule of law in an economy where heterogeneous …

and cannot be more easily financed by borrowing from the financial market. Democracy appears to affect the pace of reform …

The economics literature provides ample evidence that higher corruption discourages FDI inflows. In this paper we … inflows on corruption. We present a simple model that illustrates the two-way relationship between foreign direct investment … and corruption, identifying exactly the direction of causality that we address: how do “exogenous“ variations in FDI …