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It takes two: an explanation of the democratic peace

Levy, Gilat and Razin, Ronny (2003) It takes two: an explanation of the democratic peace. . Centre for Economic Policy Research (Great Britain), London, UK.

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Abstract

In this Paper, we provide an explanation of the democratic peace hypothesis, i.e., the observation that democracies rarely fight one another. We show that in the presence of information asymmetries and strategic complements, the strategic interaction between two democracies differs from any other dyad. In our model, two democracies induce the highest probability of peaceful resolution of conflicts. But it takes two for peace; one democracy involved in a conflict does not necessarily increase the probability of a peaceful resolution compared to a conflict between two non-democratic regimes.

Item Type: Monograph (Discussion Paper)
Official URL: http://www.cepr.org
Additional Information: © 2003 Gilat Levy and Ronny Razin
Divisions: Economics
STICERD
Subjects: J Political Science > JA Political science (General)
JEL classification: D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D82 - Asymmetric and Private Information
Date Deposited: 05 Jun 2008 08:41
Last Modified: 15 Sep 2023 22:56
URI: http://eprints.lse.ac.uk/id/eprint/5379

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