登入
選單
返回
Google圖書搜尋
Democratic Capital
Torsten Persson
Guido Enrico Tabellini
其他書名
The Nexus of Political and Economic Change
出版
National Bureau of Economic Research
, 2006
URL
http://books.google.com.hk/books?id=qkIBPAJ5UhgC&hl=&source=gbs_api
註釋
We study the joint dynamics of economic and political change. Predictions of the simple model that we formulate in the paper get considerable support in a panel of data on political regimes and GDP per capita for about 150 countries over 150 years. Democratic capital -- measured by a nation's historical experience with democracy and by the incidence of democracy in its neighborhood -- reduces the exit rate from democracy and raises the exit rate from autocracy. In democracies, a higher stock of democratic capital stimulates growth in an indirect way by decreasing the probability of a successful coup. Our results suggest a virtuous circle, where the accumulation of physical and democratic capital reinforce each other, promoting economic development jointly with the consolidation of democracy.