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Kiel Institute for World Economics Kiel Working Papers, Kiel Institute for World Economics

No 1458:
Income and Democracy. A Comment on Acemoglu, Johnson, Robinson, and Yared (2008)

Erich Gundlach and Martin Paldam

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; (follow links to similar papers)

JEL-Codes: D72,; O43; (follow links to similar papers)

9 pages, October 2008

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