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Democracy, Dictatorship and Protection of Property Rights

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  • Carl Henrik Knutsen

Abstract

This article investigates how political regimes influence property rights. The article reviews arguments for and against the hypothesis that democracy enhances property rights protection, and then conducts empirical tests. Democracy is likely endogenous to property rights protection. The analysis takes this into account by utilising an innovative instrument for democracy. The results, based on data from 1984 to 2004 for over 120 countries, show that democracy enhances property rights protection, even when controlling for endogeneity and country-specific characteristics.

Suggested Citation

  • Carl Henrik Knutsen, 2011. "Democracy, Dictatorship and Protection of Property Rights," Journal of Development Studies, Taylor & Francis Journals, vol. 47(1), pages 164-182.
    • Handle: RePEc:taf:jdevst:v:47:y:2011:i:1:p:164-182
    DOI: 10.1080/00220388.2010.506919
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    References listed on IDEAS

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    1. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422, November.
    2. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119, Decembrie.
    3. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264219, Febrero.
    4. Kaufmann, Daniel & Kraay, Aart & Mastruzzi, Massimo, 2006. "Governance matters V: aggregate and individual governance indicators for 1996 - 2005," Policy Research Working Paper Series 4012, The World Bank.
    5. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264202.
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