Daron Acemoğlu, Konstantin Sonin, Georgy Egorov, 28 February 2010

Why do bad and incompetent governments emerge and persist under a variety of different political regimes? This column presents a new insight. Even though more democratic regimes do not necessarily perform better than less democratic ones under given conditions such as during conflicts or early economic development, more democratic regimes do appear to have greater flexibility in the face of shocks.


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