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The effect of political regimes and technology on economic growth

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Author Info

  • Khurram Jamali
  • Kirsten Wandschneider
  • Phanindra Wunnava

Abstract

Do political regimes have a significant effect on economic growth? This study builds on the new neoclassical growth model to identify economic determinants of growth, and explicitly tests for the influence of political variables on economic performance for the 1990s. The results suggest that democracies and bureaucracies significantly outperform autocracies. Economic growth is also promoted by increased protection of property rights, and higher investment in education. Moreover, technology has become a requirement for efficient production, and hence, is crucial in promoting growth. Countries can therefore increase the level of economic growth by increasing the levels of education and technology in the economy, and establishing codified laws to foster property rights.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840500447906
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 39 (2007)
Issue (Month): 11 ()
Pages: 1425-1432

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Handle: RePEc:taf:applec:v:39:y:2007:i:11:p:1425-1432

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Cited by:
  1. Libman, Alexander, 2008. "Democracy and growth: is the effect non-linear?," MPRA Paper 17795, University Library of Munich, Germany.
  2. Wunnava, Phanindra V. & Leiter, Daniel B., 2008. "Determinants of Inter-Country Internet Diffusion Rates," IZA Discussion Papers 3666, Institute for the Study of Labor (IZA).
  3. Alexander Libman, 2012. "Democracy, size of bureaucracy, and economic growth: evidence from Russian regions," Empirical Economics, Springer, vol. 43(3), pages 1321-1352, December.
  4. Wunnava, Phanindra V. & Mitra, Aniruddha & Prasch, Robert E., 2012. "Globalization, Institutions, and the Ethnic Divide: Recent Longitudinal Evidence," IZA Discussion Papers 6459, Institute for the Study of Labor (IZA).
  5. Libman, Alexander, 2013. "Natural resources and sub-national economic performance: Does sub-national democracy matter?," Energy Economics, Elsevier, vol. 37(C), pages 82-99.

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