Has Democracy Slowed Growth in Asia?
AbstractSummary 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 InfoArticle provided by Elsevier in its journal World Development.
Volume (Year): 37 (2009)
Issue (Month): 5 (May)
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Web page: http://www.elsevier.com/locate/worlddev
democracy autocracy growth Asia developmental states;
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