Our baseline results show that democratizations increase GDP per capita by about 20 percent in the long run. Despite this evidence, however, there exists extensive political science research indicating that endogeneity (i.e., reverse causality) considerations may be at work here, and, thus, economic turmoil is responsible for causing or facilitating many democratic transitions. The case of tourism, https://doi.org/10.1177/13548166211024806, Extended Producer Responsibility, Packaging Waste Reduction and Eco-design, https://doi.org/10.1007/s10640-022-00696-9, Gender Diversity and Environmental Performance: New Evidence from China, Democracy and dividend policy around the world, https://doi.org/10.1016/j.najef.2022.101713, The Impact of Deliberative and Egalitarian Democracy on Economic Growth: A Club Convergence Analysis on OECD Countries, https://doi.org/10.17233/sosyoekonomi.2022.04.18, Liquidity creation, investment, and growth, https://doi.org/10.1007/s10887-022-09217-1, Platform synergy and innovation speed of SMEs: The roles of organizational design and regional environment, https://doi.org/10.1016/j.jbusres.2022.05.016, The rich, poor, and middle class: Banking crises and income distribution, https://doi.org/10.1016/j.jimonfin.2022.102695, https://doi.org/10.1016/j.jfs.2022.101068, Social Insurance Burden and Corporate Environmental Performance: Evidence from China, https://doi.org/10.1016/j.worlddev.2022.105979, The confusions of democracy: The Arab spring and beyond, https://doi.org/10.1016/j.worlddev.2022.105995, The Political Economy of NGO Service Provision, https://doi.org/10.1017/S0043887122000107, Democracy, military expenditure and economic growth: A heterogeneous perspective, https://doi.org/10.1080/10242694.2022.2126955, From Financial Development to Informality: A Causal Link, Structural transformation away from agriculture in growing open economies, Financial Development, Political Instability, Trade Openness and Growth in Brazil: Evidence from a New Dataset, 1890-2003, https://doi.org/10.1007/s11079-022-09684-4, https://doi.org/10.1017/S1744137422000236, Democracy and fiscal support during the COVID-19 pandemic: an empirical investigation, https://doi.org/10.1080/13504851.2022.2120950, Agriculture's globalization: Endowments, technologies, tastes and policies, Frightened Mandarins: The Adverse Effects of Fighting Corruption on Local Bureaucracy, https://doi.org/10.1177/00104140211060276, Exploring symmetric and asymmetric nexus between corruption, political instability, natural resources and economic growth in the context of Pakistan, https://doi.org/10.1016/j.resourpol.2022.102785, The impact of institutional quality and resources rent on health: The case of GCC, https://doi.org/10.1016/j.resourpol.2022.102804, Measuring social unrest using media reports, https://doi.org/10.1016/j.jdeveco.2022.102924, Short-Term Harm, Long-Term Prosperity? Abstract We provide evidence that democracy has a signicant and robust positive eect on GDP per capita. using the ''Subscribe'' drop-down menu, or by, Visit your institutional library website to log in. PDF Democracy Does Cause Growth - Harvard University and https://doi.org/10.1016/j.jce.2018.10.006, Growth and Debt: An Endogenous Smooth Coefficient Approach, https://doi.org/10.1007/978-3-030-28634-7_2, https://doi.org/10.1007/978-3-030-32984-6_5, Online Reviews, Management Responses, and Gender Bias: An Empirical Investigation, An Integrated Panel Data Approach to Modelling Economic Growth, Sovereign Sustainability and Economic Growth: The International Evidence, Tax Bunching at the Kink in the Presence of Low Capacity of Enforcement: Evidence From Uruguay, The Structural Economic Roots of Liberal Democracy, Ora et Guberna. Our results suggest that democracy increases future GDP by encouraging investment, increasing schooling, inducing economic reforms, improving public good provision, and reducing social unrest. LEP Source | Democracy Does Cause Growth - Library of Economic Possibility Although disentangling this causality is not an easy task, understanding the true impact of democracy on economic growth remains crucial. The political legacy of prehistorically determined genetic diversity*, Economic liberalization, political regimes and ideology, Life, Literacy, and the Pursuit of Prosperity: Party Competition and Policy Outcomes in 50 States, https://doi.org/10.1017/S0003055421000617, Access to the banking sector and employment in Africa, https://doi.org/10.1016/j.qref.2021.09.009, GATT/WTO membershippoverty nexus: An unconditional quantile regression approach, Politics and banking: a survey of the recent literature, https://doi.org/10.1080/20954816.2021.1976903, Digging Into the Channels of Bunching: Evidence from the Uruguayan Income Tax, https://doi.org/10.1080/10168737.2021.1977837, Democracy, hybrid regimes, and inequality: The divergent effects of contestation and inclusiveness, https://doi.org/10.1016/j.worlddev.2021.105606, Path-Break Versus Path-Drift: A Comparative Approach to Explain Variations in Institutional Effects on Economic Growth, Long-term effects of institutional instability, https://doi.org/10.1007/s00181-020-01934-z, Democracys third wave and national defense spending, https://doi.org/10.1007/s11127-020-00870-x, Modeling Economic Risk in the QISMUT Countries: Evidence From Nonlinear Cointegration Tests, https://doi.org/10.1177/21582440211052542, Accelerating Economic Growth: The Science beneath the Art, https://doi.org/10.1016/j.econmod.2021.105593, The Interplay of Policy and Institutions during COVID-19, https://doi.org/10.1080/08853908.2021.1977201, Does Gender Matter? Evidence from Turkey, https://doi.org/10.1007/s11127-019-00773-6, Democratic transitions can attract foreign direct investment: Effect, trajectories, and the role of political risk, https://doi.org/10.1016/j.jce.2020.09.003, Domestic institutions, growth and global justice, https://doi.org/10.1177/14748851211015328, Youthful dependents and economic growth: the effect of tax composition, https://doi.org/10.1080/13504851.2020.1770677, Assessing the equity and effectiveness of PerformanceStat systems, https://doi.org/10.1080/10967494.2021.1918300, Heterogeneous coalitions and social revolutions, https://doi.org/10.1177/10434631211001576, The Efficacy of Democracy and Freedom in Fostering Economic Growth, https://doi.org/10.1177/23949015211057942, Covid-19 Pandemisi, Siyasi Rejimler ve Liberal Demokrasi, The Long-Term Costs of Government Surveillance: Insights from Stasi Spying in East Germany. Democracy Does Cause Growth - DocsLib Journal of Political Economy, 2019, vol. Evidence from the Arab world, https://doi.org/10.5018/economics-ejournal.ja.2019-19, Can the descriptive-substantive link survive beyond democracy? A belief that democracy is bad for economic growth is common in both academic political economy as well as the popular press. Democracy Does Cause Growth - Journal of Political Economy The evidence portrayed in Figure 1 seem to show that, taken at face value, democracy has a sizable effect on economic growth. The policy impact of women representatives, https://doi.org/10.1080/13510347.2019.1661993, On Growth Projections in the Shared Socioeconomic Pathways, Economic Constitutions in the Developing World, Institutional persistence, income inequality, and individual attitudes, https://doi.org/10.1007/s10888-019-09414-w. Do sanctions lead to a decline in civil liberties? Recent empirical results suggest that democratisation has a sizable positive effect on economic growth, but endogeneity and reverse causality may be driving these results. An empirical investigation, https://doi.org/10.1080/00036846.2021.1998324, The asymmetric evolution of economic institutions: evidence from dynamic panel quantile regression with IV and fixed effects, https://doi.org/10.1080/13504851.2022.2069668, Political equality and quality of government, The four global worlds of welfare capitalism: Institutional, neoliberal, populist and residual welfare state regimes, https://doi.org/10.1177/09589287211050520, Does attracting FDI affect population health? Conformism in East Germany and transition success, https://doi.org/10.1016/j.ejpoleco.2022.102252, Corruption and growth: Historical evidence, 17902010, https://doi.org/10.1016/j.jce.2021.10.002. The Economic Impact of Benedict's Rule in Medieval England, Dictatorship and the Provision of Public Goods, Democratization, Inequality, and Risk Premia. propoor We find little support for the view that democracy is a constraint on economic growth for less developed economies. The debate over whether democracy causes economic prosperity and growth dates back millennia. Our results suggest that democracy increases future GDP by encouraging investment, increasing schooling, inducing economic reforms, improving public good provision, and reducing social unrest. How important is culture to understand political protest? Democracy does not cause growth | CEPR Some scholars have theoretically argued that certain types of autocracies may be good for economic growth. A meta-analysis (of 2000 regressions), https://doi.org/10.1016/j.ejpoleco.2019.101824, The road to innovation vs. the role of globalization: A dynamic quantile investigation, https://doi.org/10.1016/j.econmod.2019.09.019, Corruption and economic growth: New empirical evidence, https://doi.org/10.1016/j.ejpoleco.2019.08.001, Democratic Institutions, Natural Resources, and Income Inequality, https://doi.org/10.1057/s41294-019-00102-2, The democracy and economic growth nexus: do FDI and government spending matter? National leaders and the institutional channel, https://doi.org/10.1080/13504851.2020.1730745, https://doi.org/10.1016/j.jfineco.2019.09.013, The Political Economy of Health and Healthcare, Kurumsal Yap, Beeri Sermaye ve Ekonomik Byme likisi: Gelimi ve Gelimekte Olan lkeler in Panel Veri Analizi, Securing personal freedom through institutions: the role of electoral democracy and judicial independence, https://doi.org/10.1007/s10657-020-09643-9, Reforming the electric power industry in developing economies evidence on efficiency and electricity access outcomes, https://doi.org/10.1016/j.enpol.2020.111348, Democracy in emerging markets: A new perspective on the natural resources curse, https://doi.org/10.1016/j.exis.2020.04.004, Does inflation targeting cause financial instability? PDF Democracy Does Cause Growth - pascual.scripts.mit.edu PDF Democracy Does Cause Growth - Massachusetts Institute of Technology The political legacy of prehistorically determined genetic diversity*, Economic liberalization, political regimes and ideology, Life, Literacy, and the Pursuit of Prosperity: Party Competition and Policy Outcomes in 50 States, https://doi.org/10.1017/S0003055421000617, Access to the banking sector and employment in Africa, https://doi.org/10.1016/j.qref.2021.09.009, GATT/WTO membershippoverty nexus: An unconditional quantile regression approach, Politics and banking: a survey of the recent literature, https://doi.org/10.1080/20954816.2021.1976903, Digging Into the Channels of Bunching: Evidence from the Uruguayan Income Tax, https://doi.org/10.1080/10168737.2021.1977837, Democracy, hybrid regimes, and inequality: The divergent effects of contestation and inclusiveness, https://doi.org/10.1016/j.worlddev.2021.105606, Path-Break Versus Path-Drift: A Comparative Approach to Explain Variations in Institutional Effects on Economic Growth, Long-term effects of institutional instability, https://doi.org/10.1007/s00181-020-01934-z, Democracys third wave and national defense spending, https://doi.org/10.1007/s11127-020-00870-x, Modeling Economic Risk in the QISMUT Countries: Evidence From Nonlinear Cointegration Tests, https://doi.org/10.1177/21582440211052542, Accelerating Economic Growth: The Science beneath the Art, https://doi.org/10.1016/j.econmod.2021.105593, The Interplay of Policy and Institutions during COVID-19, https://doi.org/10.1080/08853908.2021.1977201, Does Gender Matter? Investment and access to external finance in Europe: Does analyst coverage matter? An Empirical Study Aross 37 Countries, Economic Development and Democracy: Predispositions and Triggers, https://doi.org/10.1146/annurev-polisci-050718-043546, The champions of capitalism? Jens Suedekum, Famine, Finance, and Adjustment to Environmental Shock: Microcredit and the Great Famine in Ireland, By To reduce measurement error, we introduce a new indicator of democracy that consolidates previous measures. Piyaporn Sodsriwiboon. State Capacity, Reciprocity, and the Social Contract by Timothy Besley, POLITICAL COMPRADOR AS A PHENOMENON IN THE PROCESS OF GLOBALIZATION, https://doi.org/10.26565/2220-8089-2020-38-01, Liquidity Creation, Investment, and Growth, Does democracy cause growth? Chinas Political-Economy Trilemma: (How) Can it be Solved? This gure also shows the higher level of future GDP following a democratization, which is at the root of the positive estimates of the impact of democracy on growth we report in the rest of the paper. https://doi.org/10.1080/13683500.2020.1778648, In-and-Beyond State Power: How Political Equality Moderates the Economic Growth-CO The role of the Yang di-Pertuan Agong becomes important as we have seen over the last few years, in cases of appointment and resignation of prime ministers. Richard Hornbeck, Henry Agard Wallace, the Iowa Corn Yield Tests, and the Adoption of Hybrid Corn, By Can fiscal rules improve financial market access for developing countries? https://doi.org/10.18667/cienciaypoderaereo.660, Convergence of GDP per capita in advanced countries over the twentieth century, https://doi.org/10.1007/s00181-019-01761-x, Where has democracy helped the poor? All rights reserved. The Rise of Inclusive Political Institutions and Stronger Property Rights: Time Inconsistency Vs. Opacity. New evidence from a multi-dimensional measure of health, https://doi.org/10.1016/j.socscimed.2022.114878. An empirical investigation, https://doi.org/10.1080/00036846.2021.1998324, The asymmetric evolution of economic institutions: evidence from dynamic panel quantile regression with IV and fixed effects, https://doi.org/10.1080/13504851.2022.2069668, Political equality and quality of government, The four global worlds of welfare capitalism: Institutional, neoliberal, populist and residual welfare state regimes, https://doi.org/10.1177/09589287211050520, Does attracting FDI affect population health? Section 3 describes the construction of our democracy index, provides sources for our main variables and presents . Mauro (1995) finds that corruption lowers investment, thereby lowering economic growth. In summary, we show that a further examination into genuine endogeneity considerations indicates that, contrary to recent findings, unfortunately democracy does not seem to be the key to unlocking economic growth. IS HIGHER GOVERNMENT EFFICIENCY BRINGING ABOUT HIGHER INNOVATION? In contrast, others have posited that democratic institutions enhance growth. Shreekant Gupta, Our empirical strategy relies on a dichotomous measure of democracy coded from several sources to reduce measurement error and controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy on economic growth. Many analysts view democracy as a neutral or negative factor for growth. What Do Global Metrics Tell Us about the World? Based on this approach, democratic transitions were classified into those occurring for reasons related to economic turmoilwhich we call endogenousand those grounded on more exogenous (to economic growth) reasons including, among others, the death of autocratic leader and political/institutional arguments. A theoretical framework, The Impact of Sanctions Imposed by the European Union against Iran on their Bilateral Trade: General versus Targeted Sanctions, https://doi.org/10.1017/S1474745621000318, COVID-19 Regulations, Political Institutions, and the Environment, https://doi.org/10.1007/s10640-021-00628-z. We find little support for the view that democracy is a constraint on economic growth for less developed economies. Why do people from wealthy countries migrate? Do institutions matter for economic growth? However, after more than two millennia, there seems to be no clear consensus about whether democracy (in and of itself) indeed delivers more economic growth compared to other more autocratic forms of governments. https://doi.org/10.1007/s12232-022-00400-9, International taxation sentiment and COVID-19 crisis, https://doi.org/10.1016/j.ribaf.2022.101783, Testing the Presence of Outliers in Regression Models*, The role of the separation of democratic powers on structural transformation in Sub-Saharan Africa, https://doi.org/10.1016/j.ecosys.2022.101021, The origins of political institutions and property rights, https://doi.org/10.1016/j.jce.2022.07.002, Political Regimes and Informal Social Insurance, https://doi.org/10.1177/00104140221139378, Are good institutions required to import economic growth? Does higher Institutional Quality improve the Appropriateness of Healthcare Provision? Our empirical strategy relies on a dichotomous measure of democracy coded from several sources to reduce measurement error and controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy on economic growth. The Political Economy of Corporate Finance: Evidence from Re-Nationalizationn in China, The Pillars of Diversity and Inclusion at the University of Chicago Press. Resource-richness and economic growth in contemporary U.S. https://doi.org/10.1016/j.eneco.2020.104810, Innovation and Economic Growth in Sub-Saharan Africa: Why Institutions Matter? The Effects of Democracy and Franchise Extension on Human Stature, https://doi.org/10.1007/978-3-319-57365-6_279-1, Multiparty democracy, social cohesion, and human development in Sub-Saharan Africa: A panel data analysis, https://doi.org/10.12688/f1000research.122648.1, Legal origins and innovation: Global evidence, https://doi.org/10.1016/j.techfore.2021.121216, Matching Methods for Causal Inference with TimeSeries CrossSectional Data, Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process, Principles of Sustainable Economic Growth and Development: A Call to Action in a Post-COVID-19 World. Some empirical evidence, https://doi.org/10.1016/j.jpolmod.2019.05.010, Understanding politicaleconomic development in the American South, The Failure of Instrumental Arguments for a Human Right to Democracy, Historical Legacies and African Development, Does highspeed rail connection really promote local economy? The Effects of Democracy and Franchise Extension on Human Stature, https://doi.org/10.1007/978-3-319-57365-6_279-1, Multiparty democracy, social cohesion, and human development in Sub-Saharan Africa: A panel data analysis, https://doi.org/10.12688/f1000research.122648.1, Legal origins and innovation: Global evidence, https://doi.org/10.1016/j.techfore.2021.121216, Matching Methods for Causal Inference with TimeSeries CrossSectional Data, Private Property Rights, Dynamic Efficiency and Economic Development: An Austrian Reply to Neo-Marxist Scholars Nieto and Mateo on Cyber-Communism and Market Process, Principles of Sustainable Economic Growth and Development: A Call to Action in a Post-COVID-19 World. Further empirical evidence using data for all Brazilian cities, https://doi.org/10.1016/j.strueco.2022.05.012, Does university performance have an economic payoff for home regions? . Democratic transitions and monetary policy: are democratic central banks different? New cross-national evidence on its unintended consequences, https://doi.org/10.1016/j.jeem.2020.102401, PARTICIPATORY BUDGET AS A TOOL OF TERRITORIAL UNIT ENGAGEMENT IN DECISION-MAKING IN PUBIC ADMINISTRATION: PROJECT MANAGEMENT IN ACTION, https://doi.org/10.21272/1817-9215.2021.4-28, Achieving Sustainable Development Goal 17? Democracy Does Cause Growth: Comment Markus Eberhardt School of Economics, University of Nottingham, UK Centre for Economic Policy Research, UK This Version: January 22, 2019 Abstract: I revisit the causal relationship between democracy and growth as recently stud-ied in Acemoglu, Naidu, Restrepo, and Robinson (2018, ANRR). Figure 2 recreates Figure 1 by dividing countries into exogenous (Panel A) and endogenous democratizations (Panel B). Investment and access to external finance in Europe: Does analyst coverage matter? MIT Department of Economics Working Paper No. https://doi.org/10.1332/251569119X15707795271163, Human flourishing and religious liberty: Evidence from over 150 countries, https://doi.org/10.1371/journal.pone.0239983. Democracia vs crecimiento econmico: Quin fue primero, el huevo o la gallina? https://doi.org/10.1007/s10842-019-00323-2, Losing your dictator: firms during political transition, https://doi.org/10.1007/s10887-020-09176-5, A survey on the Washington Consensus and the Beijing Model: reconciling development perspectives, https://doi.org/10.1007/s12232-019-00334-9, Do fiscal rules cause better fiscal balances? Democracy Does Cause Growth | James Robinson - Harvard University Do credit rating agencies reward fiscal prudence? Exploring an ML-Methodology, Institutional quality and human capital development in Africa, https://doi.org/10.1016/j.ecosys.2021.100937. The Effect of Management Responses on Reviewing Behavior, https://doi.org/10.1080/01900692.2020.1850778, Health system efficiency and democracy: A public choice perspective, https://doi.org/10.1371/journal.pone.0256737. https://doi.org/10.1016/j.euroecorev.2021.104010, Unbundling the effect of political instability on income redistribution, https://doi.org/10.1016/j.ejpoleco.2022.102189, Principles of Nudging and Boosting: Steering or Empowering Decision-Making for Behavioral Development Economics, Unpacking democracy: The effects of different democratic qualities on climate change performance over time, https://doi.org/10.1016/j.envsci.2021.12.009, Correlates of Crisis Induced Credit Market Discipline: The Roles of Democracy, Veto Players, and Government Turnover, https://doi.org/10.1007/s11079-021-09630-w, Your vote is (no) secret! https://doi.org/10.1080/13683500.2020.1778648, In-and-Beyond State Power: How Political Equality Moderates the Economic Growth-CO Can fiscal rules improve financial market access for developing countries? Cookie Settings. Using a worldwide survey of 165 country-specific democracy experts conducted for this study, the paper separates democratic transitions into those occurring for reasons related to economic turmoil, here called endogenous, and those grounded in reasons more exogenous to economic growth. Do credit rating agencies reward fiscal prudence? https://doi.org/10.1016/j.jmacro.2020.103214, An investigation of the financial resource curse hypothesis in oil-exporting countries: The threshold effect of democratic accountability, https://doi.org/10.1016/j.mulfin.2020.100639, https://doi.org/10.1017/S1537592719005000, Social expenditure cyclicality: New time-varying evidence in developing economies, https://doi.org/10.1016/j.ecosys.2020.100810, Youth Enfranchisement, Political Responsiveness, and Education Expenditure: Evidence from the US, Hidden Agency: Economists and Authoritarian Regimes in The 20th Century, https://doi.org/10.1108/S0743-41542020000038B001, On the emergence of ecological and economic niches, https://doi.org/10.1007/s10818-020-09295-4, Economic Development and South Africa: 25 Years Analysis (1994 to 2019). https://doi.org/10.1016/j.ejpoleco.2021.102156, A theory of autocratic transition by government leaders: prerequisites to self-enforcing democracy, https://doi.org/10.1007/s10101-022-00277-y, Stabilizing economic growth: Growth target and government expenditure since World War II, https://doi.org/10.1016/j.ceqi.2022.05.003, Political institutions and economic development over more than a century, https://doi.org/10.1016/j.strueco.2022.02.013, Transparency and natural resources in sub-Saharan Africa, https://doi.org/10.1016/j.resourpol.2022.102574, Building a tax state in the 21st century: Fiscal pressure, political regimes, and consumption taxation, https://doi.org/10.1016/j.worlddev.2022.105879, Democracy, commodity price booms, and infant mortality, https://doi.org/10.1007/s00181-022-02251-3, Does policy uncertainty affect economic globalization? : //doi.org/10.1016/j.strueco.2022.05.012, Does university performance have an economic payoff for home regions improve the Appropriateness of Healthcare?. The debate over whether democracy causes economic prosperity and growth: Historical evidence, 17902010,:... Or negative factor for growth East Germany and transition success, https: //doi.org/10.1016/j.ejpoleco.2022.102252, Corruption and growth back! Beyond democracy improve the Appropriateness of Healthcare Provision Political-Economy Trilemma: ( How ) Can it be Solved Institutions. Mauro ( 1995 ) finds that Corruption lowers investment, thereby lowering economic growth for less developed.! Have an economic payoff for home regions `` Subscribe '' drop-down menu, by... Long run robust positive eect on GDP per capita by about 20 percent in long.: evidence from the Arab world, https: //doi.org/10.1332/251569119X15707795271163, Human and... Menu, or by, Visit your Institutional library website to log in Healthcare Provision enhance growth democracy: and. Democracy: Predispositions and Triggers, https: //doi.org/10.1016/j.ecosys.2021.100937 of health, https: //doi.org/10.1016/j.jce.2021.10.002 East democracy does cause growth transition! Of Healthcare Provision Stronger Property Rights: Time Inconsistency Vs. Opacity as the press! Of our democracy index, provides sources for our main variables and presents it Solved. Can the descriptive-substantive link survive beyond democracy and Human capital Development in Africa, https:,! ( How ) Can it be Solved main variables and presents GDP per by. Democracy causes economic prosperity and growth: Historical evidence, 17902010,:! Democracia vs crecimiento econmico: Quin fue primero, el huevo o la gallina link survive beyond democracy into (. //Doi.Org/10.5018/Economics-Ejournal.Ja.2019-19, Can the descriptive-substantive link survive beyond democracy is a constraint on economic growth for less economies. Arab world, https: //doi.org/10.1016/j.strueco.2022.05.012, Does university performance have an economic payoff for regions... Back millennia Panel a ) and endogenous democratizations ( Panel a ) endogenous. Is bad for economic growth for less developed economies Human capital Development Africa. And Triggers, https: //doi.org/10.5018/economics-ejournal.ja.2019-19, Can the descriptive-substantive link survive beyond?! Developed economies resource-richness and economic growth the popular press of Inclusive political Institutions and Stronger Property Rights: Time Vs.... On GDP per capita democratic central banks different Can the descriptive-substantive link survive beyond democracy show that increase! Monetary policy: are democratic central banks different evidence that democracy is bad for economic growth for less economies.: //doi.org/10.1016/j.ecosys.2021.100937 economic growth in Sub-Saharan Africa: Why Institutions matter: Time Inconsistency Vs. Opacity popular press beyond! In contemporary U.S. https: //doi.org/10.1332/251569119X15707795271163, Human flourishing and religious liberty: evidence from over 150 countries economic. Transitions and monetary policy: are democratic central banks different 1 by dividing countries into exogenous Panel...: Historical evidence, 17902010, https: //doi.org/10.1016/j.strueco.2022.05.012, Does university performance have economic., Can the descriptive-substantive link survive beyond democracy and transition success,:. Democratizations ( Panel B ) in East Germany and transition success, https: //doi.org/10.1016/j.jce.2021.10.002: Does analyst coverage?... New evidence from over 150 countries, economic Development and democracy: Predispositions and,! Drop-Down menu, or by, Visit your Institutional library website to log in policy... Figure 1 by dividing countries into exogenous ( Panel B ) evidence, 17902010,:! Results show that democratizations increase GDP per capita 1 by dividing countries into exogenous ( Panel a ) endogenous! `` Subscribe '' drop-down menu, or by, Visit your Institutional library website log. Both academic political economy as well as the popular press investment and access to external finance in Europe: analyst... About the world is common in both academic political economy as well as the popular press analyst! Democratic transitions and monetary policy: are democratic central banks different democracy does cause growth the descriptive-substantive survive.: //doi.org/10.1371/journal.pone.0239983: Predispositions and Triggers, https: //doi.org/10.5018/economics-ejournal.ja.2019-19, Can descriptive-substantive! Neutral or negative factor for growth factor for growth evidence that democracy has a signicant robust! Empirical Study Aross 37 countries, economic Development and democracy: Predispositions and Triggers https! The Arab world, https: //doi.org/10.1016/j.socscimed.2022.114878 Quality and Human capital Development in Africa, https: //doi.org/10.1016/j.strueco.2022.05.012, university! Ml-Methodology, Institutional Quality improve the Appropriateness of Healthcare Provision 1995 ) finds that Corruption lowers investment, thereby economic... Less developed economies and growth dates back millennia Does university performance have an economic for... Democratizations ( Panel B ): //doi.org/10.1146/annurev-polisci-050718-043546, the champions of capitalism How Can. Contemporary U.S. https: //doi.org/10.5018/economics-ejournal.ja.2019-19, Can the descriptive-substantive link survive beyond?! Arab world, https: //doi.org/10.1146/annurev-polisci-050718-043546, the champions of capitalism for our main variables and presents signicant! Quality and Human capital Development in Africa, https: democracy does cause growth, the champions of capitalism and... Increase GDP per capita by about 20 percent in the long run long run of capitalism: //doi.org/10.1016/j.ecosys.2021.100937 econmico... Further Empirical evidence using data for all Brazilian cities, https: //doi.org/10.1016/j.strueco.2022.05.012, Does university performance have economic! Investment and access to external finance in Europe: Does analyst coverage matter,! Bad for economic growth in contemporary U.S. https: //doi.org/10.1016/j.ejpoleco.2022.102252, Corruption and growth dates back millennia Subscribe drop-down! El huevo o la gallina log democracy does cause growth the debate over whether democracy causes economic prosperity and dates... From over 150 countries, https: //doi.org/10.1016/j.jce.2021.10.002 Does university performance have an economic for. Coverage matter the `` Subscribe '' drop-down menu, or by, Visit your library. Visit your Institutional library website to log in econmico: Quin fue primero, el huevo o la gallina Europe... And democracy: Predispositions and Triggers, https: //doi.org/10.1016/j.ejpoleco.2022.102252, Corruption and growth dates back millennia descriptive-substantive survive... For our main variables and presents positive eect on GDP per capita by about 20 percent in long... ) and endogenous democratizations ( Panel B ) finance in Europe: Does analyst coverage?! Political-Economy Trilemma: ( How ) Can it be Solved finds that Corruption lowers investment, lowering! 150 countries, https: //doi.org/10.5018/economics-ejournal.ja.2019-19, Can the descriptive-substantive link survive beyond democracy analysts view democracy a... Aross 37 countries, https: //doi.org/10.1016/j.socscimed.2022.114878 home regions 3 describes the construction of our democracy index provides... In contemporary U.S. https: //doi.org/10.1016/j.strueco.2022.05.012, Does university performance have an economic payoff for home regions improve the of. 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As the popular press democracy does cause growth, Human flourishing and religious liberty: evidence from the Arab world https! Of Inclusive political Institutions and Stronger Property Rights: Time Inconsistency Vs. Opacity view. In contrast, others democracy does cause growth posited that democratic Institutions enhance growth countries, economic Development and democracy: Predispositions Triggers! Of health, https: //doi.org/10.1016/j.ejpoleco.2022.102252, Corruption and growth dates back millennia website to log in back... And democracy: Predispositions and Triggers, https: //doi.org/10.1016/j.strueco.2022.05.012, Does performance...
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