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Investigating the Empirical Relationship between Polity and Economic Growth

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  • Myeong Hwan Kim
  • Yongseung Han

Abstract

The long-run relationship between polity change and economic growth has been considered by a number of researchers, yet no clear consensus has emerged concerning the causal link between these two important measures of progress. This study used various estimation methods based on different assumptions of the unknown error structure to investigate this relationship in 154 countries from 1961 to 2007. First, we found no globally significant relationship between polity change and economic growth. However, we found several significant relationships at the local level, including (a) a positive relationship in the 1980s and in Africa and (b) a negative relationship in the 1970s and in Europe. Second, we found that previous economic growth hinders democracy, albeit slightly; in contrast, the influence of democracy on economic growth is negligible.

Suggested Citation

  • Myeong Hwan Kim & Yongseung Han, 2015. "Investigating the Empirical Relationship between Polity and Economic Growth," Review of Political Economy, Taylor & Francis Journals, vol. 27(3), pages 341-368, July.
    • Handle: RePEc:taf:revpoe:v:27:y:2015:i:3:p:341-368
    DOI: 10.1080/09538259.2015.1039296
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    1. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422.
    2. Konstantin Yanovskiy & Sergey Shulgin, 2013. "Institutions, democracy and growth in the very long run," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 63(4), pages 493-510, December.
    3. Tang, Sam Hak Kan & Yung, Linda Chor Wing, 2008. "Does rapid economic growth enhance democratization? Time-series evidence from high performing Asian economies," Journal of Asian Economics, Elsevier, vol. 19(3), pages 244-253, June.
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    Cited by:

    1. Maria José Sousa, 2022. "Digital Technologies for Urban Greening Public Policies," GEE Papers 0166, Gabinete de Estratégia e Estudos, Ministério da Economia, revised Jun 2022.
    2. Maria José Sousa, 2022. "Digital Technologies and Public Policies Applied to Green Cities," Land, MDPI, vol. 11(11), pages 1-18, November.
    3. Joshi, Prathibha & Beck, Kris, 2021. "Economic Growth and the Rise of Democracy: A Granger Causality Analysis," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 74(4), pages 389-414.

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