Democracy, Dictatorship and Protection of Property Rights
研究了政治体制如何影响产权保护，利用1984-2004年120多个国家的数据，通过创新工具变量处理内生性，发现民主确实能增强产权保护。
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.