Democracy Does Cause Growth

• 成果类型: Article
• 署名作者: Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual; Robinson, James A.
• 署名单位: Massachusetts Institute of Technology (MIT); Columbia University; Boston University; University of Cambridge
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/700936
• 发表日期: 2019
• 页码: 47-100
• 关键词: panel-data; economic-development; efficient estimation; democratization; models; WEALTH; HEALTH; income; WORLD; state

摘要

We provide evidence that democracy has a positive effect on GDP per capita. Our dynamic panel strategy controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy. To reduce measurement error, we introduce a new indicator of democracy that consolidates previous measures. Our baseline results show that democratizations increase GDP per capita by about 20 percent in the long run. We find similar effects using a propensity score reweighting strategy as well as an instrumental-variables strategy using regional waves of democratization. The effects are similar across different levels of development and appear to be driven by greater investments in capital, schooling, and health.