While social scientists often theorize about the enduring effects of past regime characteristics, conceptual issues and data limitations pose real challenges for assessing these legacies empirically. This paper introduces a new measure of democratic stock, conceptualized as the accumulated experience of democratic rule within a polity. Using a weighted sum of past values on the Electoral Democracy Index from the Varieties of Democracy (V-Dem) Institute, we capture variation in past experiences with democratic institutions and practices in 199 political units from 1789 to 2019. This measure of democratic stock provides additional information on a country's political history that is not captured by its present level of democracy or regime type. To illustrate this, we highlight several cases and revisit prominent theories about democratic norms, economic growth, and democratic decline. These applications encourage scholars to think more about political outcomes as legacies of democracy.We recognize support by the Knut and Alice Wallenberg Foundation to Wallenberg Academy Fellow Staffan I. Lindberg, Grant 2018.0144; by European Research Council, Grant 724191, PI: Staffan I. Lindberg; as well as by internal grants from the Vice- Chancellor’s office, the Dean of the College of Social Sciences, and the Department of Political Science at University of Gothenburg. The computations of expert data were enabled by the Swedish National Infrastruc- ture for Computing (SNIC) at National Supercomputer Centre, Link ̈oping University, partially funded by the Swedish Research Council through grant agreement no. 2019/3-516
