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Political transition in a small open economy: Retracing the economic trail of South Africa’s long walk to democracy

Author

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  • Biniam E. Bedasso

Abstract

This paper seeks to offer an economic explanation for the emergence of democracy in societies with high income inequality and narrow middle-class such as Apartheid South Africa. The presence of a credible threat of capital flight is shown to render democracy less unpleasant to the elites by making future tax concessions possible. However, inequality should […]

Suggested Citation

  • Biniam E. Bedasso, 2014. "Political transition in a small open economy: Retracing the economic trail of South Africa’s long walk to democracy," Working Papers 458, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:458
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    More about this item

    Keywords

    Africa; capital market; Government and Growth; inequality; International trade; South Africa;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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