Regime change and critical junctures

Javier Rivas

European Journal of Political Economy, 2023, vol. 76, issue C

Abstract: In this paper we study how a society can transition between different economic and political regimes. When the current regime is elitism, the society is modeled as a collection of units of land where at each of these units there is a member of the elite and a peasant. Under the democratic regime, at each of the units of land there is a citizen whose role is to work the land and enjoy the full output he produces. At every period with some small probability a critical juncture arrives, giving a chance for a regime change. Among others, we find that a wider output gap can increase the number of different institutions that are possible after a critical juncture and that lower land profitability makes equilibria where an extractive regime continues less likely.

Keywords: Elitism; Critical juncture; Democracy; Regime change (search for similar items in EconPapers)
JEL-codes: D72 D74 P16 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:poleco:v:76:y:2023:i:c:s0176268022000702

DOI: 10.1016/j.ejpoleco.2022.102269

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