Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24852
Authors: 
Gundlach, Erich
Paldam, Martin
Year of Publication: 
2008
Series/Report no.: 
Kiel Working Paper 1458
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.
Subjects: 
Democracy
modernization hypothesis
fixed-effects estimation
JEL: 
D72
O43
Document Type: 
Working Paper

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