Autocratic Legislatures and Expropriation Risk
نویسندگان
چکیده
An important question for international investors concerns the relationship between political institutions and property rights. Yet a debate remains over whether authoritarian institutions promote favorable investment climates. Using data on oil nationalization in a sample of autocracies, this study finds that legislatures are correlated with lower expropriation risk in non-personalist dictatorships, but a higher risk of nationalization in personalist regimes. The results show a consistent pattern between authoritarian institutions and property protections, for which context matters.
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