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Income and Democracy: A Comment on Acemoglu, Johnson, Robinson, and Yared (2008)

Erich Gundlach () and Martin Paldam

Economics Working Papers from Department of Economics and Business Economics, Aarhus University

Abstract: Acemoglu, Johnson, Robinson, and Yared (2008) demonstrate that estimation of the standard adjustment model with country-fixed and time-fixed effects removes the statistical significance of income as a causal factor of democracy. We argue that their empirical approach must produce insignificant income effects and that a small change in the estimation process immediately reveals the strong effect of income on democracy.

Keywords: Democracy; Modernization hypothesis; fixed-effects estimation (search for similar items in EconPapers)
JEL-codes: D72 O43 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm and nep-pol
Date: 2008-10-15
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Working Paper: Income and democracy: a comment on Acemoglu, Johnson, Robinson, and Yared (2008) (2008) Downloads
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