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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Determinants of Life Expectancy and its Prospects under the Role of Economic Misery: A Case of Pakistan
TL;DR: In this paper, the authors investigated the determinants of life expectancy in the presence of economic misery using Pakistan's time series data over the period of 1972-2012 and found that life expectancy is Granger cause of health spending, food supply, economic misery, urbanization and illiteracy.
Journal Article
Democracy and Health: Evidence from Indian States
Madhvi Gupta,Pushkar +1 more
TL;DR: In this article, the authors examined the validity of the so-called "democracy advantage" thesis with reference to India's states and found that the evidence suggests that democracy's effects on health are mixed, good to moderate in a number of states, but poor in most of the populous states.
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Factor Returns, Institutions, and Geography: A View From Trade
TL;DR: The authors showed that protection of property rights has similar effects on workers with only primary education as on those with more education, and that these productivities from trade are related to the institutions and geography across countries.
Journal ArticleDOI
Institutional Quality, Financial Friction, and Sustained Economic Growth: The Case of China
TL;DR: In this article, the authors tried to understand the differences in the driving forces of short and long-term growth in an economy without significant improvement in institutional quality, and found that institutional quality is important for economic growth.
References
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Book
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.
Book
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.