cruelty of episodes of mass killing and the levels of development and democracy across countries and over time. We find that … massacres are more likely at intermediate levels of income and less likely at very high levels of democracy, but we do not find … evidence of a linear relationship between democracy and probability of mass killings. In the 20th century, discrete …

volatility as a two-equation system, and find that higher levels of democracy and diversification lower volatility, whereas … volatility itself reduces growth. Muslim countries instrument for democracy, and measures of diversification identify volatility …. In contrast to the lack of consensus on the democracy-growth relationship, the democracy-stability link is robust. Rather …

of democracy (rather than democracy vs. non-democracy) has important consequences for the adoption of structural polices … opposed to majoritarian) and permanent (as opposed to temporary) democracy appear to produce the most growth …

of democracy (rather than democracy vs. non-democracy) has important consequences for the adoption of structural polices … opposed to majoritarian) and permanent (as opposed to temporary) democracy appear to produce the most growth …

We provide evidence that democracy has a significant and robust positive effect on GDP. Our empirical strategy relies … on a dichotomous measure of democracy coded from several sources to reduce measurement error and controls for country … fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy on economic growth. Our …