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

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 …

factor in a healthy liberal democracy. We ask two questions: 1) do individuals who are members of civil associations vote …

Do foreign-educated individuals play a role in promoting democracy in their home countries? Despite the large amount of … foster democracy in their home countries. Using a unique panel dataset on foreign students starting from 1950, I show that …, indeed, foreign-educated individuals promote democracy in their home country, but only if the foreign education is acquired …

This paper analyses why corruption can persist for long periods in a democracy and inquires whether this can result … from a well-informed rational choice of the citizens. By applying a citizen-candidate model of representative democracy …

Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and … years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the …. Democracy has a positive and significant impact on the adoption of economic reforms but there is no evidence that economic …

deviation increase in democracy can reduce nominal instability nearly fourfold. This impact is robust to alternative measures of … democracy, samples, covariates, and definitions of conflict. It is particularly noteworthy that a variety of nominal pathologies …

I study the link between ethnic diversity, democracy, and corruption. In a static model, I show that contrary to … conventional wisdom, corruption might emerge as a negative externality of democracy. This occurs through ethnicity, which appears … technology of extraction operates only at the early stage of democracy. Its impact tends to phase out as democracy matures. In …