Democracy and economic growth : a meta-analysis

Doucouliagos, Hristos and Ulubasoglu, Mehmet Ali 2008, Democracy and economic growth : a meta-analysis, American journal of political science, vol. 52, no. 1, pp. 61-83.

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Title Democracy and economic growth : a meta-analysis
Author(s) Doucouliagos, Hristos
Ulubasoglu, Mehmet Ali
Journal name American journal of political science
Volume number 52
Issue number 1
Start page 61
End page 83
Total pages 23
Publisher Wiley-Blackwell Publishing
Place of publication Malden, Mass.
Publication date 2008-01
ISSN 0092-5853
1540-5907
Summary Despite a sizeable theoretical and empirical literature, no firm conclusions have been drawn regarding the impact of political democracy on economic growth. This article challenges the consensus of an inconclusive relationship through a quantitative assessment of the democracy-growth literature. It applies meta-regression analysis to the population of 483 estimates derived from 84 studies on democracy and growth. Using traditional meta-analysis estimators, the bootstrap, and Fixed and Random Effects meta-regression models, it derives several robust conclusions. Taking all the available published evidence together, it concludes that democracy does not have a direct impact on economic growth. However, democracy has robust, significant, and positive indirect effects through higher human capital, lower inflation, lower political instability, and higher levels of economic freedom. Democracies may also be associated with larger governments and less free international trade. There also appear to be country- and region-specific democracy-growth effects. Overall, democracy's net effect on the economy does not seem to be detrimental.
Language eng
Field of Research 140202 Economic Development and Growth
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2008
Copyright notice ©2008, Midwest Political Science Association
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017080

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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