two views. Property rights do affect development as suggested by the PoI. However, democracy is mainly an effect of …

cleavages in society (Hegre et al, 2003; Bhagwati, 2004; Mousseau and Mousseau, 2008; Dreher et al, 2008). -- growth ; democracy …

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 people's human capital. Using a new panel data set, covering 140 …