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Title: Democracy and Economic Growth: A Reassessment
Authors: 林馨怡
Lin, Hsin-Yi
Hsiao, Yu-Hsiang
Contributors: 經濟系
Keywords: democracy;economic growth;quantile regression
Date: 2021-06
Issue Date: 2022-04-11 13:22:20 (UTC+8)
Abstract: This paper revisits the relationship between democracy and economic growth using a quantile regression method based on dynamic panel data. It explores the heterogeneous effects of democratization on economic growth when the effects depend on growth rates. Our evidence suggests that democracy can foster or hinder growth, depending on a country’s growth rate. The effects of democracy on growth are positive and strong in countries with low growth rates, and weak in countries with high growth rates. The results imply that the lower the growth rate is, the more democracy is beneficial. We conclude that democracy fosters economic growth when countries are experiencing low or moderate growth. When countries have already experienced high growth, democracy is not conducive to economic growth.
Relation: Taiwan Economic Review, Vol.49, No.2, pp.169-206
Data Type: article
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Appears in Collections:[經濟學系] 期刊論文

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