Income and democracy: Evidence from system GMM estimates
Benedikt Heid (),
Julian Langer and
Mario Larch ()
No 118, ifo Working Paper Series from ifo Institute - Leibniz Institute for Economic Research at the University of Munich
Does higher income cause democracy? Accounting for the dynamic nature and high persistence of income and democracy, we find a statistically significant positive relation between income and democracy for a postwar period sample of up to 150 countries. Our results are robust across different model specifications and instrument sets.
Keywords: Income; democracy; dynamic panel estimators (search for similar items in EconPapers)
JEL-codes: O10 C33 D72 E21 (search for similar items in EconPapers)
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Journal Article: Income and democracy: Evidence from system GMM estimates (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ifowps:_118
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