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| Author: | Apolte, T. |
| Title: | Democracy and prosperity in two decades of transition |
| Journal: | Economics of transition
2011 : OCT, VOL 19:4 p. 693-722 |
| Index terms: | transition economies public choice democracy growth institutions political economy |
| Language: | eng |
| Abstract: | This article revisits the connection between democracy, liberalization and prosperity in transition countries, using a 25-country panel over 20 years. Earlier investigations discovered positive correlation between political and economic liberalization, although the relationship between political liberalization and prosperity remained ambiguous. In this article, the results are unclear regarding the connection between democracy indicators on one hand and growth on the other. This contribution therefore investigates the component variables of these indicators in order to determine their extent of influence. The findings suggest that basic constitutional rights and restrictions on the government rather than political competition in itself may be conducive to both economic liberalization and prosperity in the transition countries. |
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