The Bonds of Democratic Politics - An Economic Perspective
University of Hamburg - Institute of Law & Economics; CESifo (Center for Economic Studies and Ifo Institute)
This paper is an attempt to analyze bonds and their relevance within the confines of economics. They are discussed as both exogenous and endogenous variables. More specifically, the bonds of democratic politics are compared with those of non-democratic politics. It is argued that only those societies that have at their disposition certain kinds of bonds will be able to sustain democracy. It is further argued that the differential effects of democratic vs. non-democratic regimes on the respective bonds are rather weak. But then again, different kinds of democratic institutions might well have an effect on the prevalent bonds found in a society.
Number of Pages in PDF File: 31
Keywords: Bonds, values and norms, trust, institutions
JEL Classification: D78, H11, Z13working papers series
Date posted: December 19, 2001
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