We present a simple model that illustrates how democracy may improve the quality of economic institutions. The model further suggests that institutional quality varies more across autocracies than across democracy and that the positive effect of democracy on institutional quality is increasing...

In this study, we employ a new dataset on bank ownership and reassess the links between domestic and foreign ownership and lending during the 1996 - 2018 period. Additionally, we distinguish between privately-owned and state-controlled banks and find that the lending activities of foreign...