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, wherein policymakers have access to an expropriation technology that can be used to extract resources from foreign investors … political equilibrium exhibits over-expropriation and under-investment even when there is no political uncertainty because …
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. This correlation is rationalized with a model of redistribution, where policymakers have access to an expropriation …
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two views. Property rights do affect development as suggested by the PoI. However, democracy is mainly an effect of …
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