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The Coevolution of Economic and Political Development

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  • Fali Huang

    ()
    (School of Economics and Social Sciences, Singapore Management University)

Abstract

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different production factors, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation.

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Bibliographic Info

Paper provided by Singapore Management University, School of Economics in its series Working Papers with number 22-2006.

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Length: 29 pages
Date of creation: Aug 2006
Date of revision:
Publication status: Published in SMU Economics and Statistics Working Paper Series
Handle: RePEc:siu:wpaper:22-2006

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Keywords: Economic Development; Political Development; Class Structure; Land; Physical Capital; Human Capital; Monarchy; Suffrage Extension.;

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References

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  1. Goldin, Claudia, 2001. "The Human-Capital Century and American Leadership: Virtues of the Past," Scholarly Articles 2624681, Harvard University Department of Economics.
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  6. Galor, Oded & Moav, Omer, 2001. "Das Human Kapital," CEPR Discussion Papers 2701, C.E.P.R. Discussion Papers.
  7. Neri Salvadori, 2004. "Economic growth and distribution: on the nature and causes of the wealth of nations," Economics Bulletin, AccessEcon, vol. 28(18), pages A0.
  8. Oded Galor, 2006. "The Demographic Transition," Working Papers 2006-24, Brown University, Department of Economics.
  9. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472 Elsevier.
  10. Daron Acemoglu & James A. Robinson, 2001. "A Theory of Political Transitions," American Economic Review, American Economic Association, vol. 91(4), pages 938-963, September.
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  18. repec:ebl:ecbull:v:28:y:2004:i:18:p:a0 is not listed on IDEAS
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  21. Alessandro Lizzeri & Nicola Persico, 2004. "Why Did the Elites Extend the Suffrage? Democracy and the Scope of Government, With an Application to Britain's "Age of Reform"," The Quarterly Journal of Economics, MIT Press, vol. 119(2), pages 705-763, May.
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Cited by:
  1. Jorge Braga de Macedo & Luis Brites Pereira & Joaquim Oliveira Martins & João Tovar Jalles, 2013. "Globalization, Democracy and Development," NBER Working Papers 19575, National Bureau of Economic Research, Inc.
  2. Casey B. Mulligan & Kevin K. Tsui, 2008. "Political Entry, Public Policies, and the Economy," NBER Working Papers 13830, National Bureau of Economic Research, Inc.

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