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Globalization, Democracy and Development

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  • Jorge Braga de Macedo
  • Luis Brites Pereira
  • Joaquim Oliveira Martins
  • João Tovar Jalles

Abstract

This paper addresses the interactions between globalization, the quality of democracy, and economic convergence using simultaneous estimation techniques. To reflect process, we use multi-dimensional, de facto, and continuous measures of democracy and globalization. To reflect context, as defined by space (geography) and time (history), we control for the distance to the income frontier. Using this measure of development, we extend the test for the two-way relationship between democracy and globalization put forward by Eichengreen and Leblang (2008) for the period 1870-2000. Focusing on the more recent wave of globalization (1970-2005), we find a two-way relationship between democracy and globalization and also significant two-way relationships with development. In the restricted sample of non-OECD countries, however, democracy hurts development.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19575.

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Date of creation: Oct 2013
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Handle: RePEc:nbr:nberwo:19575

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  1. Torsten Persson & Guido Tabellini, 2007. "The Growth Effects of Democracy: Is It Heterogenous and How Can It Be Estimated?," Levine's Working Paper Archive 321307000000000969, David K. Levine.
  2. J. Ernesto Lopez-Cordova & Christopher M. Meissner, 2005. "The Globalization of Trade and Democracy, 1870-2000," NBER Working Papers 11117, National Bureau of Economic Research, Inc.
  3. Persson, Torsten & Tabellini, Guido, 2006. "Democratic Capital: The Nexus of Political and Economic Change," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5654, C.E.P.R. Discussion Papers.
  4. Giuliano, Paola & Nunn, Nathan, 2013. "The Transmission of Democracy: From the Village to the Nation-State," CEPR Discussion Papers, C.E.P.R. Discussion Papers 9304, C.E.P.R. Discussion Papers.
  5. Pesaran, M.H., 2003. "A Simple Panel Unit Root Test in the Presence of Cross Section Dependence," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 0346, Faculty of Economics, University of Cambridge.
  6. Claude Diebolt & Tapas Mishra & Bazoumana Ouattara & Mamata Parhi, 2013. "Democracy and Economic Growth in an Interdependent World," Review of International Economics, Wiley Blackwell, vol. 21(4), pages 733-749, 09.
  7. Fecerico Bonaglia & Jorge Braga de Macedo & Maurizio Bussolo, 2002. "How Globalisation Improves Governance," International Trade, EconWPA 0211005, EconWPA.
  8. Fali Huang, 2006. "The Coevolution of Economic and Political Development," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c011_066, DEGIT, Dynamics, Economic Growth, and International Trade.
  9. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  10. Miaojie YU, 2005. "Trade Globalization and Political Liberalization: A Gravity Approach," International Trade, EconWPA 0511005, EconWPA.
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