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Does rapid economic growth enhance democratization? Time-series evidence from high performing Asian economies

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  • Tang, Sam Hak Kan
  • Yung, Linda Chor Wing
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    Abstract

    We examine the long-run relationship between economic growth and democratization for the high performing Asian economies using a time-series technique called the autoregressive distributive lag bounds test. For all eight of such economies, we do not find a statistically significant long-run relationship running from growth to democratization. Instead, we find a statistically significant long-run relationship running from democratization to growth, which can be either positive or negative. Contrary to the conventional wisdom, our results suggest that rapid economic growth in the high performing Asian economies appears to have little effect on democratization in the long run.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Asian Economics.

    Volume (Year): 19 (2008)
    Issue (Month): 3 (June)
    Pages: 244-253

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    Handle: RePEc:eee:asieco:v:19:y:2008:i:3:p:244-253

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    Web page: http://www.elsevier.com/locate/asieco

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    1. de Haan, Jakob & Sturm, Jan-Egbert, 2003. "Does more democracy lead to greater economic freedom? New evidence for developing countries," European Journal of Political Economy, Elsevier, vol. 19(3), pages 547-563, September.
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    3. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, 09.
    4. Jan Fidrmuc, 2001. "Economic Reform, Democracy and Growth During Post-Communist Transition," William Davidson Institute Working Papers Series 372, William Davidson Institute at the University of Michigan.
    5. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August.
    6. Dani Rodrik, 2000. "Institutions for High-Quality Growth: What They are and How to Acquire Them," NBER Working Papers 7540, National Bureau of Economic Research, Inc.
    7. Barro, Robert J, 1996. " Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
    8. Atkins, Frank J. & Coe, Patrick J., 2002. "An ARDL bounds test of the long-run Fisher effect in the United States and Canada," Journal of Macroeconomics, Elsevier, vol. 24(2), pages 255-266, June.
    9. Lee, Woojin, 2003. "Is democracy more expropriative than dictatorship? Tocquevillian wisdom revisited," Journal of Development Economics, Elsevier, vol. 71(1), pages 155-198, June.
    10. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    11. Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
    12. John F. Helliwell, 1994. "Empirical Linkages Between Democracy and Economic Growth," NBER Working Papers 4066, National Bureau of Economic Research, Inc.
    13. Bhagwati, Jagdish N, 2002. "Democracy and Development: Cruel Dilemma or Symbiotic Relationship," Review of Development Economics, Wiley Blackwell, vol. 6(2), pages 151-62, June.
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