divergence in democracy and political rights is 4 to 5 times larger than the divergence in the path toward economic freedom and … ease of doing business. Democracy is not harder to predict than economic freedom — history and ethnicity predict it well …

Growth empirics with institutional measures is performed for 25 transition countries overthe period 1990-95. Estimation … results suggest that (particularly state) institutions aresignificant for growth and, especially, foreign direct investment … is more likely to be a (direct) causation. Only inflation and war seem to have beenrelatively more important for growth …

There is a growing literature studying the effects of economic freedom and democracy on income inequality; nevertheless … democracy is estimated. The findings demonstrate that economic freedom has positive effect on income inequality. The estimated …