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Democracy and prosperity in two decades of transition

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  • Thomas Apolte

Abstract

This paper revisits the relation between democracy, liberalization, and prosperity in transition countries, using a panel of 25 countries over 19 years. Earlier investigations found political and economic liberalization to be positively correlated whereas the relation between political liberalization and prosperity remained unclear. In this paper, a hump-shaped relationship between political liberalization and growth is found, such that a rise in democracy levels promotes growth only under initially low democracy levels. Furthermore, economic and political liberalization turn out to be positively related, but with surprisingly small coefficients.

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File URL: http://hdl.handle.net/10.1111/j.1468-0351.2011.00418.x
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Bibliographic Info

Article provided by The European Bank for Reconstruction and Development in its journal Economics of Transition.

Volume (Year): 19 (2011)
Issue (Month): 4 (October)
Pages: 693-722

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Handle: RePEc:bla:etrans:v:19:y:2011:i:4:p:693-722

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References

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Citations

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Cited by:
  1. Jan Babecky & Tomas Havranek, 2013. "Structural Reforms and Growth in Transition: A Meta-Analysis," William Davidson Institute Working Papers Series wp1057, William Davidson Institute at the University of Michigan.
  2. Jan Babecky & Tomas Havranek, 2014. "Structural reforms and growth in transition," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 22(1), pages 13-42, 01.
  3. Tridico, Pasquale, 2013. "The stage of development among former communist economies: Social capital, the middle class and democracy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 44(C), pages 47-58.
  4. Jürgen Jerger, 2012. "Zur Akzeptanz politischer und marktwirtschaftlicher Reformen in Osteuropa: Empirische Befunde und Erklärungsansätze," Working Papers 315, Institut für Ost- und Südosteuropaforschung (Institute for East and South-East European Studies).
  5. Jan Babecky & Tomas Havranek, 2013. "Structural Reforms and Economic Growth: A Meta-Analysis," Working Papers 2013/08, Czech National Bank, Research Department.

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