-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their … reveals the strong effect of income on democracy. -- Democracy ; modernization hypothesis ; fixed-effects estimation …

We revisit one of the central empirical findings of the political economy literature that higher income per capita … causes democracy. Existing studies establish a strong cross-country correlation between income and democracy, but do not … country fixed effects removes the statistical association between income per capita and various measures of democracy. We also …

We revisit one of the central empirical findings of the political economy literature that higher income per capita … causes democracy. Existing studies establish a strong cross-country correlation between income and democracy, but do not … country fixed effects removes the statistical association between income per capita and various measures of democracy. We also …