IDEAS home Printed from https://ideas.repec.org/p/hhs/aareco/2008_015.html
   My bibliography  Save this paper

Economic Growth and Institutional Reform in Modern Monarchies and Republics: : A Historical Cross-Country Perspective 1820-2000

Author

Listed:
  • Bjørnskov, Christian

    () (Department of Economics, Aarhus School of Business)

  • Kurrild-Klitgaard, Peter

    (Dept. of Political Science)

Abstract

Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 18202000 to explore whether regime types and institutional reforms have differential growth effects in monarchies and republics. A set of Barrotype regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of largescale reforms do. Specifically, we find a strong “valleyoftears” effect of large reforms in republics while monarchies benefit from such reforms in the tenyear perspective adopted here. We offer some tentative thoughts on the underlying mechanisms responsible for the results.

Suggested Citation

  • Bjørnskov, Christian & Kurrild-Klitgaard, Peter, 2008. "Economic Growth and Institutional Reform in Modern Monarchies and Republics: : A Historical Cross-Country Perspective 1820-2000," Working Papers 08-15, University of Aarhus, Aarhus School of Business, Department of Economics.
  • Handle: RePEc:hhs:aareco:2008_015
    as

    Download full text from publisher

    File URL: http://research.asb.dk/fbspretrieve/3856/wp_08-15
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Toke S. Aidt & Martin Gassebner, 2010. "Do Autocratic States Trade Less?," World Bank Economic Review, World Bank Group, vol. 24(1), pages 38-76, January.
    2. Barro, Robert J, 1996. "Democracy and Growth," Journal of Economic Growth, Springer, vol. 1(1), pages 1-27, March.
    3. James E. Anderson & Douglas Marcouiller, 2002. "Insecurity And The Pattern Of Trade: An Empirical Investigation," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 342-352, May.
    4. Clague, Christopher & Keefer, Philip & Knack, Stephen & Olson, Mancur, 1996. "Property and Contract Rights in Autocracies and Democracies," Journal of Economic Growth, Springer, vol. 1(2), pages 243-276, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. New paper on the political economy of monarchy
      by Peter Kurrild-Klitgaard in Peter Kurrild-Klitgaard on 2014-04-23 19:00:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Christian Bjørnskov & Pierre-Guillaume Méon, 2013. "Is trust the missing root of institutions, education, and development?," Public Choice, Springer, vol. 157(3), pages 641-669, December.
    2. George Tridimas, 2016. "On the overthrow or endurance of kings," Constitutional Political Economy, Springer, vol. 27(1), pages 41-65, March.
    3. George Tridimas, 2014. "Why some democracies are headed by a monarch?," ICER Working Papers 07-2014, ICER - International Centre for Economic Research.
    4. Mazaheri Nimah, 2013. "The Saudi monarchy and economic familism in an era of business environment reforms," Business and Politics, De Gruyter, vol. 15(3), pages 295-321, October.
    5. repec:bpj:ajlecn:v:7:y:2016:i:3:p:305-322:n:4 is not listed on IDEAS

    More about this item

    Keywords

    Growth; Institution; Reform; Monarchy;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • N00 - Economic History - - General - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P14 - Economic Systems - - Capitalist Systems - - - Property Rights
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hhs:aareco:2008_015. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helle Vinbaek Stenholt). General contact details of provider: http://edirc.repec.org/data/nihhadk.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.