Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/263249 
Authors: 
Year of Publication: 
2022
Series/Report no.: 
ZEW Discussion Papers No. 22-032
Publisher: 
ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung, Mannheim
Abstract: 
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 increases in people's human capital. Using a panel data set that covers 150 countries and the period from 1920 to 2019, and different measures of economic institutional quality, we show results from fixed effect and instrumental variable regressions that are in line with the predictions of our model.
Subjects: 
Democracy
Development
Economic Institutions
Human Capital
Political Economy
Political Transitions
JEL: 
D73
H11
O43
P14
P48
Document Type: 
Working Paper

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