Income and democracy: the modernization hypothesis re-visited via alternative non-linear models

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• 作者：Suzanna-Maria Paleologou (1)
  
  1. Department of Economics ; Aristotle University of Thessaloniki ; 54124聽 ; Thessalon铆ki ; Greece
  
• 关键词：Income ; Democracy ; Modernization hypothesis ; Panel count data models ; Endogeneity ; C23 ; D72 ; E21
• 刊名：Empirical Economics
• 出版年：2015
• 出版时间：March 2015
• 年：2015
• 卷：48
• 期：2
• 页码：909-921
• 全文大小：144 KB
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• 刊物主题：Econometrics; Statistics for Business/Economics/Mathematical Finance/Insurance; Economic Theory;
• 出版者：Springer Berlin Heidelberg
• ISSN：1435-8921

文摘

This paper introduces a new approach to examine the relationship between income and democracy by employing panel count data models to explicitly allow for the fact that the primary indices of democracy are non-negative integers with upper bounds. We find evidence that though income and democracy are positively related the magnitude of the coefficient is extremely small implying that there is no evidence of a causal effect, and thus there is no support for the modernization hypothesis. Moreover, once we control for income endogeneity, the relationship between income and democracy turns to be insignificant or even negative.