In this paper we estimate a time-series model of excess liquidity in the Egyptian banking sector. While financial liberalization and financial stability are found to have reduced excess liquidity, these effects have been offset by an increase in the number of violent political incidents arising from conflict between radical Islamic groups and the Egyptian state. The link between political event...

In early modern Europe, as every schoolchild learns, states and elite families were often closely interlocked. Yet family history and state theory are generally studied separately today. I try' here to unite them by underlining the central role of family lineages and gender identities in the formation of patrimonial political structures, focussing on the Netherlands, a precocious and influentia...

In the paper “Entry Barriers in Politics, or: Why Politics, Like Natural Monopoly, Is Not Organised as an Ongoing Market-Process,” an analytical framework for dealing with processes of political competition is presented. The idea goes back to Tullock’s model of democracy as franchise-bidding for natural monopoly. To this, basic insights of New Institutional Economics and Austrian Ecomomics are ...

a brief study on the history of 20th century reveals that capitalist system has been facing to political, military and economic crisis including world wars i and ii, economic crisis of 1929 and 1973, economic crisis of southeast of asia in 90s and the current economic crisis. while theories of international political economy have in common with the occurrence of the crisis itself, they are diff...

This paper studies the endogenous emergence of political regimes, in particular democracy or oligarchy, in heterogeneous societies in which institutions do not ensure political commitments. Democracy emerges if the ruling coalition that makes political decisions represents the majority of individuals of the population, while oligarchy emerges when the political decisions are made by a minority ...

This study uses a cross-country panel to examine the determinants of corruption, paying particular attention to political institutions that increase accountability. Even though the theoretical literature has stressed the importance of political institutions in determining corruption, the empirical literature is relatively scarce. Our results confirm the role of political institutions in determi...

Political theory often relies on a definite vision of the lack of consensus, which does not necessarily exclude the possibility of some modus vivendi. It turns out however that a mere modus vivendi is widely felt to be insufficient to warrant political stability and a well-ordered society. Starting from distributive-justice issues and problems of ethical conflict in democratic society, it is ar...

There are two contradictory answers to the question in the title. The first is the good growth hypothesis: economic growth generates higher incomes, which should make people approve of the government. Hence growth generates stability. The second is the destabilizing growth hypothesis: growth generates complex changes in society, and therefore instability. A part of the instability will be polit...