Economic Growth and Judicial Independence: Cross Country Evidence Using a New Set of Indicators
Rational politicians are interested in judicial independence (JI) in order to make their promises credible. But if politiciansâ€™ preferences deviate from the dicta of the judiciary, they also have incentives to renege on judicial independence. These two conflicting aspects are measured by two indicators: (i) de iure JI focusing on its legal foundations and (ii) a de facto JI focusing on countriesâ€™ actually experience. Whether JI affects economic growth is tested for a cross section of 57 countries. While de iure JI does not have an impact on real GDP growth per capita growth, de facto JI positively influences it.
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