The Institutional Foundations of Democratic Government: A Comparison of Presidential and Parliamentary Systems

Abstract

As democracy has swept the world, the euphoria of freedom has given way to more practical concerns. The ones we hear about most are economic, as nations try to make the transition from state-controlled to market economies. But there are also far-reaching concerns about democracy itself. What should democratic government look like? What institutions will work best? While economists have little experience in advising governments how to move from state-controlled to market economies, they at least have a strong theoretical base for arguing that the latter is more efficient than the former. The

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