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Do Good Institutions Lower the Benefit of Democratization?

  • Andreas Assiotis
  • Kevin Sylwester

Recent studies have reported positive associations between democratization and economic growth. They have also explored how these associations could differ across regions or income levels. However, might the effects of democratization upon growth also depend upon other factors such as institutions promoting law and order (or the lack thereof)? Using a panel specification, we employ a democratization-law and order interactive term to examine if the effects of democratization upon economic growth depend upon these other institutions. We find that the coefficient on the interaction term is negative. The positive effects of democratization diminish in countries where other institutions are strong. In fact, we find that democratization could even lower growth where the rule of law already prevails.

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File URL: http://papers.econ.ucy.ac.cy/RePEc/papers/05-13.pdf
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Paper provided by University of Cyprus Department of Economics in its series University of Cyprus Working Papers in Economics with number 05-2013.

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Length: 46 pages
Date of creation: Mar 2013
Date of revision:
Handle: RePEc:ucy:cypeua:05-2013
Contact details of provider: Web page: http://www.econ.ucy.ac.cy

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  1. Papaioannou, Elias & Siourounis, Gregorios, 2008. "Economic and Social Factors Driving the Third Wave of Democratization," CEPR Discussion Papers 6986, C.E.P.R. Discussion Papers.
  2. Papaioannou, Elias & Siourounis, Gregorios, 2008. "Democratization and Growth," CEPR Discussion Papers 6987, C.E.P.R. Discussion Papers.
  3. Daron Acemoglu & Davide Cantoni & Simon Johnson & James A. Robinson, 2009. "The Consequences of Radical Reform: The French Revolution," NBER Working Papers 14831, National Bureau of Economic Research, Inc.
  4. Bluedorn, John C., 2001. "Can democracy help? Growth and ethnic divisions," Economics Letters, Elsevier, vol. 70(1), pages 121-126, January.
  5. William Hauk & Romain Wacziarg, 2009. "A Monte Carlo study of growth regressions," Journal of Economic Growth, Springer, vol. 14(2), pages 103-147, June.
  6. Theo Eicher & Till Schreiber, 2006. "Structural Policies and Growth: Time Series Evidence from a Natural Experiment," Working Papers 48, Department of Economics, College of William and Mary.
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