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Democracy, Investment and Economic Growth

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Author Info

  • Hadhek Zouhaier

    (Superior Institut of Gestion (ISG) of Gabès- Tunisia)

  • Kefi Mohamed Karim

    (ISTEC Business School, Paris, France.)

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    Abstract

    The main purpose of this paper is to identify the relationship between democracy, investment and economic growth for a sample of 11 countries from the MENA region during the period 2000-2009, by using a dynamic panel data model. The democracy’ effect on the contribution of investment to economic growth has been the subject of a second empirical study within the framework of this research paper. The main outcomes drawn by these two empirical tests prove that there is a significant link between on the one hand the democracy and investment and on the other hand between civil liberties and economic growth. The outcomes also highlight a positive interaction between political rights and investment.

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    File URL: http://www.econjournals.com/index.php/ijefi/article/download/108/pdf
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    File URL: http://www.econjournals.com/index.php/ijefi/article/view/108/pdf
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    Bibliographic Info

    Article provided by Econjournals in its journal International Journal of Economics and Financial Issues.

    Volume (Year): 2 (2012)
    Issue (Month): 3 ()
    Pages: 233-240

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    Handle: RePEc:eco:journ1:2012-03-1

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    Web page: http://www.econjournals.com

    Related research

    Keywords: Political rights; Civil liberties; Investment; Economic growth; Dynamic panel;

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    References

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    1. de Haan, Jakob & Siermann, Clemens L J, 1998. " Further Evidence on the Relationship between Economic Freedom and Economic Growth," Public Choice, Springer, vol. 95(3-4), pages 363-80, June.
    2. Stéphane Calipel & Jean-Paul Azam & Jean-Claude Berthélemy, 1996. "Risque politique et croissance en Afrique," Revue économique, Presses de Sciences-Po, vol. 0(3), pages 819-829.
    3. Guillaumont, Patrick & Jeanneney, Sylviane Guillaumont & Brun, Jean-Francois, 1999. "How Instability Lowers African Growth," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 8(1), pages 87-107, March.
    4. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August.
    5. Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2004. "FDI and economic growth: the role of local financial markets," Journal of International Economics, Elsevier, vol. 64(1), pages 89-112, October.
    6. John F. Helliwell, 1992. "Empirical Linkages Between Democracy and Economic Growth," NBER Working Papers 4066, National Bureau of Economic Research, Inc.
    7. Isham, Jonathan & Kaufmann, Daniel & Pritchett, Lant H, 1997. "Civil Liberties, Democracy, and the Performance of Government Projects," World Bank Economic Review, World Bank Group, vol. 11(2), pages 219-42, May.
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    Cited by:
    1. Aghion, Philippe & Akcigit, Ufuk & Howitt, Peter, 2014. "What Do We Learn From Schumpeterian Growth Theory?," Handbook of Economic Growth, in: Handbook of Economic Growth, edition 1, volume 2, chapter 0, pages 515-563 Elsevier.

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