In this paper, we develop a politico-economic model to analyze the relationship between the mode of international investment and institutional quality in a non-democratic capital importing country. Foreign investors from a capital-rich North can either purchase productive assets in a...

The unanticipated and unsolicited Russian aggression in the Ukraine in February 2022 highlighted the urgency of updating general assumptions about post-communist countries. The war has revealed the inadequacy of the terms and concepts employed for western democracies for describing,...

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