We revisit Lipset?s law, which posits a positive and significant relationship between income and democracy. Using … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …

sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose …

to the question by analyzing the joint impact of democracy and geopolitical distance between countries with an augmented … distance in determining bilateral trade flows and that democracy fosters international trade and moderates the potential … negative impact of geopolitics. While the impact of democracy and its interaction with geopolitical distance are significant …

The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers … Europe. We argue that cyclical and structural factors have altered the structure, cost, and composition of funding for …

-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence …

House prices in Europe have shown diverging trends, and this paper seeks to explain these differences by analyzing …