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Has Democracy Slowed Growth in Asia?

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  • Rock, Michael T.
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    Abstract

    Summary Has democracy slowed growth in Asia? While there are a number of reasons to suggest that it has, no one has tested this hypothesis. Hypotheses linking Asia's democracies and autocracies to growth are tested in a within panel regression framework that controls for country fixed effects, global time fixed effects, the other major variables affecting growth, and for endogeneity between the right-hand side regressors. The democracy slows growth hypothesis is tested against the toughest counterfactual--the bureaucratically capable authoritarian regimes of East Asia's developmentally minded governments. Findings reject the democracy slows growth hypothesis and show that democracy causes growth and investment to rise.

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    Bibliographic Info

    Article provided by Elsevier in its journal World Development.

    Volume (Year): 37 (2009)
    Issue (Month): 5 (May)
    Pages: 941-952

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    Handle: RePEc:eee:wdevel:v:37:y:2009:i:5:p:941-952

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

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    Keywords: democracy autocracy growth Asia developmental states;

    References

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    Cited by:
    1. Javier Mejía Cubillos, 2011. "Reflexión Sobre Los Sistemas Partidistas, La Estabilidad De Las Políticas Y El Desarrollo Económico," Contribuciones a las Ciencias Sociales, Grupo Eumed.net (Universidad de Málaga), issue 2011-11, november.
    2. Knutsen, Carl Henrik, 2013. "Democracy, State Capacity, and Economic Growth," World Development, Elsevier, vol. 43(C), pages 1-18.
    3. Joao Tovar Jalles, 2010. "Does democracy foster or hinder growth? Extreme-type political regimes in a large panel," Economics Bulletin, AccessEcon, vol. 30(2), pages 1359-1372.

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