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Does Rapid Economic Growth Accelerate Democratization? Time-Series Evidence from High Performing Asian Economies

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  • Linda Chor Wing Yung

    (Department of Economics, the Chinese University of Hong Kong)

  • Sam Hak-Kan Tang

    ()
    (Department of Economics, The University of Western Australia)

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    Abstract

    We examine the direction of causality between growth and democratization for the high performing Asian economies using a new time-series technique called autoregressive distributive lag. We find that for all eight of such economies, the direction of causality runs consistently from democratization to growth and not the other way around. Rapid growth in the high performing economies appears to have little effect on democratization. We also find that the net effect of democratization on growth is not always positive. Against the widely-held view that growth enhances democratization, our evidence suggests that rapidly developing countries under authoritarian rule are unlikely to improve their democratic institutions.

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    File URL: http://www.biz.uwa.edu.au/home/research/discussionworking_papers/economics/2005?f=148840
    File Function: First version, 2005
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    Bibliographic Info

    Paper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 05-20.

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    Length: 19 pages
    Date of creation: 2005
    Date of revision:
    Handle: RePEc:uwa:wpaper:05-20

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    Keywords: Growth; Democratization; High performing Asian economies;

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    1. Rodrik, Dani, 2000. "Institutions For High-Quality Growth: What They Are And How To Acquire Them," CEPR Discussion Papers, C.E.P.R. Discussion Papers 2370, C.E.P.R. Discussion Papers.
    2. Atkins, Frank J. & Coe, Patrick J., 2002. "An ARDL bounds test of the long-run Fisher effect in the United States and Canada," Journal of Macroeconomics, Elsevier, Elsevier, vol. 24(2), pages 255-266, June.
    3. Roberto Rigobon & Dani Rodrik, 2004. "Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships," NBER Working Papers 10750, National Bureau of Economic Research, Inc.
    4. Barro, Robert J, 1996. " Democracy and Growth," Journal of Economic Growth, Springer, Springer, vol. 1(1), pages 1-27, March.
    5. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, Springer, vol. 9(3), pages 271-303, 09.
    6. John F. Helliwell, 1992. "Empirical Linkages Between Democracy and Economic Growth," NBER Working Papers 4066, National Bureau of Economic Research, Inc.
    7. Lee, Woojin, 2003. "Is democracy more expropriative than dictatorship? Tocquevillian wisdom revisited," Journal of Development Economics, Elsevier, vol. 71(1), pages 155-198, June.
    8. Tavares, Jose & Wacziarg, Romain, 2001. "How democracy affects growth," European Economic Review, Elsevier, vol. 45(8), pages 1341-1378, August.
    9. Jenny A. Minier, 2001. "Is Democracy a Normal Good? Evidence from Democratic Movements," Southern Economic Journal, Southern Economic Association, vol. 67(4), pages 996-1009, April.
    10. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
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