No Country for Old Men: Aging Dictators and Economic Growth
AbstractThis paper develops a model of the relationship between the age of a dictator and economic growth. In the model a dictator must spread the resources of the economy over his reign but faces mortality and political risk. The model shows that if the time horizon of the dictator decreases, either due to an increase of mortality risk or political risk, the economic growth rate decreases. The model predictions are supported by empirical evidence based on a three-way fixed effects model including country, year and dictator fixed effects for a sample of dictators from 116 countries. These results are robust to sample selection, the tenure of dictators, the definition of dictatorship, and a broad set of economic growth determinants.
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Bibliographic InfoPaper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 1158.
Date of creation: 18 Sep 2011
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Web page: http://www.econ.cam.ac.uk/index.htm
Other versions of this item:
- Richard Jong-A-Pin & Jochen O. Mierau, 2011. "No Country for Old Men: Aging Dictators and Economic Growth," KOF Working papers 11-289, KOF Swiss Economic Institute, ETH Zurich.
- Richard Jong-A-Pin & Jochen O. Mierau, 2011. "No Country for Old Men: Aging Dictators and Economic Growth," Working Papers CEB 11-039, ULB -- Universite Libre de Bruxelles.
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
This paper has been announced in the following NEP Reports:
- NEP-AGE-2011-10-09 (Economics of Ageing)
- NEP-ALL-2011-10-09 (All new papers)
- NEP-CWA-2011-10-09 (Central & Western Asia)
- NEP-POL-2011-10-09 (Positive Political Economics)
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