Democracy Does Cause Growth
We provide evidence that democracy has a positive effect on GDP per capita. Our dynamic panel strategy controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy. To reduce measurement error, we introduce a new indicator of democracy that consol...
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| Veröffentlicht in: | The Journal of political economy 2019-02, Vol.127 (1), p.47-100 |
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| container_end_page | 100 |
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| container_issue | 1 |
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| container_title | The Journal of political economy |
| container_volume | 127 |
| creator | Acemoglu, Daron Naidu, Suresh Restrepo, Pascual Robinson, James A. |
| description | We provide evidence that democracy has a positive effect on GDP per capita. Our dynamic panel strategy controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy. To reduce measurement error, we introduce a new indicator of democracy that consolidates previous measures. Our baseline results show that democratizations increase GDP per capita by about 20 percent in the long run. We find similar effects using a propensity score reweighting strategy as well as an instrumental-variables strategy using regional waves of democratization. The effects are similar across different levels of development and appear to be driven by greater investments in capital, schooling, and health. |
| doi_str_mv | 10.1086/700936 |
| format | Article |
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| identifier | ISSN: 0022-3808 |
| ispartof | The Journal of political economy, 2019-02, Vol.127 (1), p.47-100 |
| issn | 0022-3808 1537-534X |
| language | eng |
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| source | University of Chicago Press Journals (Full run); Worldwide Political Science Abstracts; EBSCOhost Business Source Complete |
| subjects | Capital Democracy Democratization GDP Gross Domestic Product Measurement Measurement errors Political economy Propensity |
| title | Democracy Does Cause Growth |
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