This paper challenges cross-sectional findings that democracy has a negligible effect on growth. We employ a new … countries that abandoned autocracy and consolidated representative institutions. The panel estimates imply that on average … development theories of democratic rule and Friedrich Hayek (1960)’s idea that the merits of democracy appear in the long run.. …

notably, that evolved institutions are inherently superior to those 'designed'; that institutions must be 'appropriate' and … cannot be 'transplanted'; and that the civil code and other French institutions have adverse economic effects. …

democracy in their natural field: in those countries that enter our sample as non-democracies. Examining initially autocratic … democratic) and reverse causality (democracy can be both a cause and a consequence of wealth). We quantify the driving factors … early institutions in shaping the polity. These results are robust to alternative definitions of democratization, additional …

development theories of democracy and growth that highlight the positive impact of representative institutions on economic …This paper challenges recent empirical findings that democratic institutions have a negligible direct effect on … economic growth. We delve into numerous historical sources and democracy indicators to identify the countries and timing of …

institutions, and tests whether such labor rigidities are conducive to long-run growth. We find that non-enforceable labor …

preferences, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial … unleashing technological change and through rituals, legal institutions, political economy, and conflict. Synthesizing a disjoint …

preferences, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial … unleashing technological change and through rituals, legal institutions, political economy, and conflict. Synthesizing a disjoint …

, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial … unleashing technological change and through rituals, legal institutions, political economy, and conflict. Synthesizing a disjoint …