Recent empirical work has established that 'democracy causes growth'. In this paper, we determine the underlying … institutions which drive this relationship using data from the Varieties of Democracy project. We sketch how incentives and … institutions, as witnessed recently in many countries, may jeopardise the perpetual growth effect of becoming a liberal democracy …

important insights on the economic catch-up exhibited by the new EU members in light of the institutional changes and … convergence in the EU, however, we identify subgroups that converge to different steady states using an iterative testing … suggests a clear separation between the new and old EU member states in the long run. …