Is the Effect of Income on Democracy Heterogeneous?

Hugo Faria and Hugo Montesinos-Yufa
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Hugo Faria: University of Miami
Hugo Montesinos-Yufa: Florida State University & IESA

No 2017-05, Working Papers from University of Miami, Department of Economics

Abstract: Cervellati, Jung, Sunde and Vischer (2014) find heterogeneous effects of income on democracy: negative for colonies and positive for non-colonies. They report different effects of income on democracy within colonies, depending on the quality of early institutions. In this paper, using the same data set as Cervellati et al. (2014) but applying the System GMM estimator, we find a strong, positive, significant and robust effect of income on democracy, both in the full sample of countries and the subsamples of colonies and non-colonies.

Keywords: Democracy; Income; Weak Identification; System GMM Estimation Publication Status: Under Review (search for similar items in EconPapers)
JEL-codes: D72 E21 O10 (search for similar items in EconPapers)
Date: 2017-04-13
New Economics Papers: this item is included in nep-mac and nep-pol
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