We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version … have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to …

democratization. I think of situations where this is a possibility as democratic tipping points. The transitory events I focus on are … rainfall shocks in the most agricultural countries in the world. I show that while these shocks only affect agricultural output …

of regionalism and of worldwide democratization since the late 1980s …

This paper shows how a world price shock can increase the likelihood that democratization must be used to resolve the … threat of revolution. Initially, a ruling elite may be able to use trade policy to maintain political stability. But a world … price shock can push the country into a situation where the elite face a commitment problem that only democratization can …

Europe's monetary union is part of a broader process of integration that started in the aftermath of World War II. In …