Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - 2005
necessary. Inequality in endowments and incomes prolongs the absence of good institutions and delays democratization. Conversely …We analyze the endogenous evolution of economic and political institutions and the interdependencies with the process … of economic development. Favorable economic institutions ensure the appropriability of rents in form of a state of law …