Economic Effects of Democracy. An Empirical Analysis

Francesco Decarolis

Rivista di Politica Economica, 2003, vol. 93, issue 6, 69-116

Abstract: This research analyses through the use of instrumental variables estimation whether democracy has an effect on variables belonging to three different categories: fiscal policy, inequality in income distribution and political instability. It shows there is no stable relation between democracy and fiscal policy variables between countries of the sample in the 1978-1988 period. Democracy, on the other hand, significantly affects the difference in middle class income share (positively) and in changes at the top of the executive (negatively).

JEL-codes: C21 E62 O15 O17 (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:v:93:y:2003:i:6:p:69-116

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