登入選單
返回Google圖書搜尋
其他書名
The Nexus of Political and Economic Change
出版National Bureau of Economic Research, 2006
URLhttp://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.