. Exploiting within-country variation to identify the effect of democratization during the Third Wave, we find evidence that the … effect of democratization is weaker than reported previously once one accounts for the incidence of conflict, while the … significantly reduce the incidence and onset of conflict, which suggests that part of the positive growth effect of democratization …

, and this question has gained critical importance particularly in the African context, where a wave of democratization in …

institutions. We bolster these baseline findings using an instrumental-variables strategy exploiting regional democratization waves …