This paper assesses the effect of political institutions on stock market performance in 14 African countries for which stock market data is available for the period 1990-2010. The estimation technique used is a Two-Stage-Least Squares Instrumental Variable methodology. Political regime channels of democracy, polity and autocracy are instrumented with legal-origins, religious-legacies, income-le...

The article analyzes the evolution of doctrine political loyalty Christianity to state power and views prominent Russian jurist N.N. Alekseev (1879-1964) on this issue. considered widespread thesis that sanctifies any be a key mistake doctrine. came conclusion analysis biblical texts convinces in absence Christian idealization evangelical justification priority monarchical form government. All ...

Although non-tariff measures (NTMs) have surpassed tariffs as the most prevalent instrument of trade protection globally, our knowledge what drives these NTMs is extremely limited. This paper sheds light on political determinants using a rich empirical setting in Morocco. Taking advantage bilateral EU-Morocco agreement that resulted an across-the-board tariff cut and subsequent rise NTMs, we us...

Mass mobilization (MM) is an important driver of political change. While some citizens organize in favor more democratic institutions, others take to the streets support authoritarian status quo. This article introduces measures pro-democratic and pro-autocratic MM using expert assessments for 179 polities from 1900–2021. The data allow us trace patterns over time, across regions regime types. ...

We analyze a model of moral hazard in local public services, which could be efficiently managed by officials under democratic accountability, but not who are appointed the ruler centralized autocracy. The might prefer to retain an official diverted resources from services contributed part benefit ruler. autocratic would value better only when residents reduce taxable investments, become unprofi...