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It takes two: an explanation of the democratic peace

Levy, Gilat and Razin, Ronny (2004) It takes two: an explanation of the democratic peace. Journal of the European Economic Association, 2 (1). pp. 1-29. ISSN 1542-4774

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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 increases the probability of a peaceful resolution compared to a conflict between two non-democratic regimes.

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Divisions: STICERD
Subjects: H Social Sciences > HB Economic Theory
Date Deposited: 16 Dec 2005
Last Modified: 16 May 2024 00:17

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