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
Citations
More filters
Journal ArticleDOI
Democracy and Economic Growth in Post-Communist Transition Countries
Bong Koo Kang,추가영,Sang Joon Lee +2 more
TL;DR: In this paper, the World Wide Governance Indicators: WGI (WGI) is used to measure the performance of countries in terms of their economic performance and international reputation.
Posted Content
Essays on Growth and Political Transition
TL;DR: In this paper, the authors analyzed the survival of four different growth regimes conditional on political regime transitions that occurred during the first or prior year of the economic regime and found that in countries with no history of military dictatorship, the episodes of fast-growing regimes initiated by political democratisation have an approximately 40% lower hazard of termination than the miracle growth episodes that were not started by political transitions.
Journal ArticleDOI
FDI and inequality in Sub-Saharan Africa: does democracy matter?
TL;DR: In this paper , the authors investigated whether democracy plays a mediating role in the relationship between foreign direct investment (FDI) and inequality in Sub-Saharan Africa (SSA), and they found that FDI has no direct effect on inequality whereas democracy reduces inequality directly in both the short run and the long run.
Journal ArticleDOI
The Democracy–Economy-Nexus
Stefan Brieger,Gunther Markwardt +1 more
TL;DR: In this article, the authors assess the two-sided relationship between democracy and economic development based on the current state of research and present perspectives that either negatively interpret a correlation between the two variables or completely negate it.
References
More filters
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.
Posted Content
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.