(Tuesday, May 24, 2011)
With Egypt's ongoing transition to an open and democratic system, this distinguished lecture explored the links between democratic transitions and economic development, and attempted to identify conditions under which democratizations would yield subsequent high and inclusive economic growth. Specifically, it considered the impact of alternative democratic forms of democracy (e.g., parliamentary versus presidential democracy) on fiscal and trade policies implemented after democratization. A large empirical literature in economics and political sciences has addressed these issues. Professor Guido Tebellini of Bocconi University highlighted the main findings of this literature, paying particular attention to the interactions between economic and political liberalizations.