Journal ArticleDOI
Democracy and Economic Growth: A Historical Perspective
TLDR
In this paper, the authors argue that the causal effect of democracy can be measured by a country's regime status in a particular year (T), which is correlated with its growth performance in a subsequent period (T+l).Abstract:
Recent studies appear to show that democracy has no robust association with economic growth. Yet all such work assumes that the causal effect of democracy can be measured by a country's regime status in a particular year (T), which is correlated with its growth performance in a subsequent period (T+l). The authors argue that democracy must be understood as a stock, rather than a level, measure. That is, a country's growth performance is affected by the number of years it has been democratic, in addition to the degree of democracy experienced during that period. In this fashion, democracy is reconceptualized as a historical, rather than a contemporary, variable—with the assumption that long-run historical patterns may help scholars to understand present trends. The authors speculate that these secular-historical influences operate through four causal pathways, each of which may be understood as a type of capital: physical capital, human capital, social capital, and political capital. This argument is tested in a crosscountry analysis and is shown to be robust in a wide variety of specifications and formats.read more
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Ordering Power: Contentious Politics and Authoritarian Leviathans in Southeast Asia
TL;DR: In this paper, a comparative-historical analysis of seven Southeast Asian countries (Burma, Indonesia, Malaysia, Philippines, Singapore, South Vietnam, and Thailand) reveals that subtly divergent patterns of contentious politics after World War II provide the best explanation for the dramatic divergence in Southeast Asia's contemporary states and regimes.
Journal ArticleDOI
Democracy and Human Development
TL;DR: In this paper, a series of causal pathways through which a country's level of democracy in a given year affects its level of human development and its stock of democracy over the past century is investigated.
Political Regimes and Economic Growth
Carlos Pinho,Mara Madaleno +1 more
TL;DR: In this article, the influence of political regimes on economic development through a panel data sample of 170 countries from 1960 to 2000 was investigated. And the results suggest that once fixed effects are considered, the positive relationship between income per capita and political regimes measured by different democracy variables disappears.
Journal ArticleDOI
Agency, Values, and Well-Being: A Human Development Model
TL;DR: It is argued that feelings of agency are linked to human well-being through a sequence of adaptive mechanisms that promote human development, once existential conditions become permissive, and that this model is culturally universal because taking into account a society’s western tradition does not render insignificant these adaptive linkages.
Journal ArticleDOI
The Rule of Law and Economic Growth: Where are We?
TL;DR: In this paper, the authors review the theory underlying different causal mechanisms linking the rule of law to economic growth, and provide an introduction to some outstanding measurement issues, and find that the correlation among different components of the rule-of-law concept are not tight among developing countries and that some inferences about the effects of property rights protection may not be warranted.
References
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Institutions, Institutional Change and Economic Performance
TL;DR: Douglass C. North as discussed by the authors developed an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time.
Journal ArticleDOI
Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
Manuel Arellano,Stephen Bond +1 more
TL;DR: In this article, the generalized method of moments (GMM) estimator optimally exploits all the linear moment restrictions that follow from the assumption of no serial correlation in the errors, in an equation which contains individual effects, lagged dependent variables and no strictly exogenous variables.
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Institutions, Institutional Change, and Economic Performance
Douglass C. North,John Alt +1 more
TL;DR: In this article, the authors examine the role that institutions, defined as the humanly devised constraints that shape human interaction, play in economic performance and how those institutions change and how a model of dynamic institutions explains the differential performance of economies through time.
ReportDOI
A simple, positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix
Whitney K. Newey,Kenneth D. West +1 more
TL;DR: In this article, a simple method of calculating a heteroskedasticity and autocorrelation consistent covariance matrix that is positive semi-definite by construction is described.
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Capitalism, Socialism and Democracy
TL;DR: In this paper, the authors present a history of the first half of the 20th century, from 1875 to 1914, of the First World War and the Second World War.