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 threeway 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 ULB -- Universite Libre de Bruxelles in its series Working Papers CEB with number 11-039.
Length: 34 p.
Date of creation: Sep 2011
Date of revision:
Publication status: Published by:
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Aging; ; economic growth; government performance; political instability; political leaders;
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.
- Jong-A-Pin, R. & Mierau, J. O., 2011. "No Country for Old Men: Aging Dictators and Economic Growth," Cambridge Working Papers in Economics 1158, Faculty of Economics, University of Cambridge.
- 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-2011-09-22 (Economics of Ageing)
- NEP-ALL-2011-09-22 (All new papers)
- NEP-DEV-2011-09-22 (Development)
- NEP-FDG-2011-09-22 (Financial Development & Growth)
- NEP-POL-2011-09-22 (Positive Political Economics)
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