Hobbes to Rousseau: Inequality, Institutions and Development

Matteo Cervellati · Piergiuseppe Fortunato · Uwe Sunde

59 citations0/0 files storedThe Economic Journal

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Culture, Economy, and Development Studies Economic Theory and Institutions Corruption and Economic Development

Abstract

This article studies the endogenous evolution of economic and political institutions and the interdependencies with the process of economic development. Favourable economic institutions in the form of a state of law and absence of societal conflict arise in equilibrium. Democracies are neither necessary nor sufficient to implement a state of law, even if they may be instrumental. Efficient oligarchies can emerge and persist supported by the consensus of all groups. A taxonomy of politico-economic equilibria shows the endogenous evolution of institutions depending on economic inequality and natural resource abundance, implying a non-monotonic relationship between inequality and institutional quality. © Journal compilation © 2008 by the Royal Economic Society.

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References

1991Institutions, Institutional Change and Economic Performance 1965The Logic of Collective Action 1989Endogenous Technological Change 1966The Logic of Collective Action.2001The Colonial Origins of Comparative Development: An Empirical Investigation 1959Some Social Requisites of Democracy: Economic Development and Political Legitimacy 2000Democracy in America 2012The Colonial Origins of Comparative Development: An Empirical Investigation: Reply

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2007Inequality, Democracy and the Protection of Property Rights 2010Institutions and Poverty 2004Institutions and Development: The Interaction between Trade Regime and Political System 2021Natural resources and income inequality in developed countries: synthetic control method evidence 2019Endogenous (in)formal institutions 2022Essays on the Impact of Aid and Institutions on Income Inequality and Human Welfare

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