Title of article
Reevaluatingthemodernizationhypothesis
Author/Authors
Daron Acemoglu، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
16
From page
1043
To page
1058
Abstract
We revisitandcriticallyreevaluatethewidelyacceptedmodernizationhypothesis
which claimsthatpercapitaincomecausesthecreationandtheconsolidationof
democracy.Existingstudiesfindsupportforthishypothesisbecausetheyfailtocontrol
for thepresenceofomittedvariables.Controllingforthesefactorseitherbyincluding
countryfixedeffectsinalinearmodelorbyincludingparameterizedrandomeffectsina
nonlineardoublehazardmodelremovesthecorrelationbetweenincomeandthe
likelihoodoftransitionstoandfromdemocraticregimes.Inaddition,theestimated
fixed effectsfromthelinearmodelarerelatedtohistoricalfactorsthataffectboththe
level ofincomepercapitaandthelikelihoodofdemocracyinacountry.Thisevidenceis
consistentwiththeideathateventsduringcriticalhistoricaljuncturescanleadto
divergentpolitical–economicdevelopmentpaths,someleadingtoprosperityand
democracy,otherstorelativepovertyandnon-democracy.
Keywords
DemocracyEconomic growthInstitutionsPolitical development
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846351
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