| Summary: | x, 84 p. : ill. === Modernization theory posits that economic growth and democratization are mutually constitutive processes. I extend a recent literature that finds this relationship to be spurious due to the existence of a number of international factors, specifically the role of foreign capital. Through two-stage least square (2SLS) regressions for as wide a sample as the data allow and two case studies (Indonesia and the Philippines), I find that the presence of US capital significantly influences domestic political institutions. This relationship, however, is non-linear and interrelated with exogenous shocks. === Committee in charge: Tuong Vu, Chairperson;
Craig Parsons, Member;
Karrie Koesel, Member;
Will Terry, Member
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