Cervellati, Matteo; Jung, Florian; Sunde, Uwe; Vischer, … - In: American Economic Review 104 (2014) 2, pp. 707-19
Acemoglu et al. (2008) document that the correlation between income per capita and democracy disappears when including time and country fixed effects. While their results are robust for the full sample, we find evidence for significant but heterogeneous effects of income on democracy: negative...