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| Author: | Schiffbauer, M. Shen, L. |
| Title: | Democracy vs. dictatorship Comparing the evolution of economic growth under two political regimes |
| Journal: | Economics of transition
2010 : JAN, VOL. 18:1, p. 59-90 |
| Index terms: | dictatorships democracy economic growth Korea China Egypt models |
| Freeterms: | political transition GDP |
| Language: | eng |
| Abstract: | The article focuses on analyzes that economic growth under two political regimes, The author examines that a positive link between GDP growth and democracy indexes and uses a stylized empirical fact in-depth analysis which ways the growth performance between autocratic and democratic economies may differ, in particular among low-income countries. Based on the key features of the model demonstrates that poor but large and stable dictatorships exhibit a higher equilibrium growth rate than comparable (equally poor) democracies. Moreover, there exists a particular threshold value in income such that the growth-reducing impact of dictatorial consumption (corruption) outweighs the higher (initial) public investments. Above this, the growth rate under democracy dominates the one in dictatorship. |
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