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corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … externality since the existence of corrupt entrepreneurs hurts good entrepreneurs by reducing the electoral appeal of capitalism. …
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of over 21,000 bilateral trade observations during the Age of High Imperialism, 1870-1913, to quantitatively assess the …
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"In a seminal contribution, Acemoglu, Johnson, and Robinson (2001) argue property-rights institutions powerfully affect national income, using estimated mortality rates of early European settlers to instrument capital expropriation risk. However 36 of the 64 countries in their sample are...
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