Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5083169 | International Review of Economics & Finance | 2016 | 13 Pages |
Abstract
The modernization hypothesis and the democratic domino theory have been at the forefront in explaining the democratization around the globe. This paper empirically investigates the 'middle class-driven modernization' hypothesis and the 'middle class-driven democratic domino' effect in a panel of 145 countries over the period 1985 to 2013. Using several middle class measures and a dynamic panel estimator, we show that the 'middle class-driven modernization' hypothesis finds strong empirical support in the sample of developing countries excluding Eastern Europe and Central Asia, while the 'middle class-driven democratic domino' effect finds support in the sample of developing countries excluding East Asia and the Pacific.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Natalie Chun, Rana Hasan, Muhammad Habibur Rahman, Mehmet A. UlubaÅoÄlu,