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The Democracy–Growth Nexus Revisited : A Meta-Analysis of Post-2000 Evidence

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  • IWASAKI, Ichiro

Abstract

This paper provides an independent meta-analytic reassessment of the democracy– growth nexus using empirical studies published from 2000 onward. We collect 1,841 estimates from 98 studies and convert them into partial correlation coefficients. The WAAP and UWLS+3 synthesis values are 0.019 and 0.033, respectively, suggesting a small positive average partial association between democracy-related institutional measures and economic growth. Publication selection bias is detected, but several bias-correction methods continue to indicate a positive association. Exploratory regional analysis suggests considerable heterogeneity across target areas, although the region-specific evidence is uneven and should be interpreted cautiously. Overall, the post-2000 empirical literature is consistent with a positive but modest and highly heterogeneous democracy–growth association.

Suggested Citation

  • IWASAKI, Ichiro, 2026. "The Democracy–Growth Nexus Revisited : A Meta-Analysis of Post-2000 Evidence," Discussion Paper Series 781, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:781
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    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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