“…First, previous work on political transitions has considered distributional conflicts over economic assets (Acemoglu andRobinson, 2001, 2006;Boix, 2003;Ellis and Fender, 2011;Jung and Sunde, 2014, to name a few), whereas our focus is on institutional conflicts over suppressed economic opportunities. Our theoretical focus is consistent with recent empirical evidence that modern episodes of political liberalization, on average, (i) have not been strongly driven by distributional concerns (Freeman and Quinn, 2012;Haggard and Kaufman, 2012;Houle, 2009;Teorell, 2010); (ii) have led to economic liberalization (De Haan and Sturm, 2003;Fidrmuc, 2003;Rode and Gwartney, 2012), (iii) have led to economic growth (Acemoglu et al, 2014); and (iv) have not reduced income inequality (Acemoglu et al, 2013).…”