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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

Abstract: 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)
Date: 2011
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Journal Article: Income and democracy: Evidence from system GMM estimates (2012) Downloads
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