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This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and...
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While standard political economy theories suggest a moderating effect of democratization on income inequality, empirical literature has failed to uncover any such robust relationship. Here we take yet another look at this issue arguing first, that prevailing ideology may be an important...
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We reexamine the effect of economic development on the level of democracy based on the data sets of Acemoglu et al … democracy. The zero-one-inflated beta distribution is more appropriate for continuous but bounded responses with non … democracy variables. Since our analysis highlights that the distribution of democracy is bimodal, we approximate the modes using …
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