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
Regime legitimation strategies and competition laws in autocracies
TL;DR: Li et al. as discussed by the authors show that performance-based legitimacy claims positively correlate with the strength of competition laws and that performance legitimacy claims significantly interact with electoral competition and the regional prevalence of strong competition laws to influence competition policies.
Journal ArticleDOI
Parliamentary experience and contemporary democracy in Africa: A Northian view
TL;DR: In a series of pioneering works, Douglass North argues that the institutional innovations taking place in seventeenth-century England as a consequence of a modification of the balance of power was explained by North as mentioned in this paper.
Journal ArticleDOI
Democracy and economic growth in mist countries: an empirical analysis
TL;DR: In this article , the authors analyzed the relationship between democracy and economic growth for MIST (Mexico, Indonesia, South Korea, and Turkey) countries and found that an increase in the level of democracy boosts the economic growth.
Journal ArticleDOI
Political development and economic performance in the last 200 years
TL;DR: In this paper , the authors explored the bi-directorial causality for the period of 1821-2016 using Granger causality test to verify whether there has been a causal relationship between economic performance and the quality of political environment.
Journal ArticleDOI
Public subsidies for credit support, democracy and European female-led SMEs
TL;DR: In this article , the authors investigated whether variety of democracy affects the probability to employ public subsidies for credit support by small and medium-sized enterprises (SMEs) led by female entrepreneurs.
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.