The paper reexamines Lipset's theory of democratization, by distinguishing the role of (economic) development from that …-market aspirations - and forces the elite to expand redistribution. Along the lines of this trade-off, our theory provides a Lipsetian … explanation of the positive relationship between economic development, education, and democratization, and of the negative …

-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the … policies such as subsidies to innovation investments explain a country's position in the eventual world income distribution …

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 …