In this paper, we create alternative measures of political instability, which capture movements only from dictatorship … to democracy and vice versa (consistent with the recent theoretical work by Acemoglu and Robinson) but, unlike older …

This paper analyzes how changes in the concentration of political power affect long-run development. We study Brazil …'s military dictatorship whose rise to power dramatically altered the distribution of power of local political elites. We document … that municipalities that were more politically concentrated prior to the dictatorship in the 1960s are relatively richer in …

This paper analyzes how changes in the concentration of political power affect long-run development. We study Brazil …’s military dictatorship whose rise to power dramatically altered the distribution of power of local political elites. We document … that municipalities that were more politically concentrated prior to the dictatorship in the 1960s are relatively richer in …