Democracy, Dictatorship and People’s beliefs: Evidence from the World Value Longitudinal Survey

Abstract

The relationship that exists between economic results and political institutions has been the subject of much discussion and debate. Both the nature of political institutions and the economic outcomes have a significant impact on one another. Political institutions have a considerable influence on the outcomes of economic activity, and economic outcome has a big impact on the nature of political institutions. In addition to their effects on the economy, political institutions have the potential to shape the characteristics of social institutions via their impact on the beliefs held by the populace. This research makes use of two different worldwide data sources: World Value Longitudinal Survey and Global State of Democracy Index by International Institute for Democracy and Electoral Assistance in addition to economic data in order to gain an understanding of the differences in the beliefs and values that are held by people living in the various political regimes. There are three key findings from this study. First, as a consequence of the change in political regimes, people's perspectives on the relative merits of equality and freedom tend to change. People with higher incomes place a higher emphasis on freedom than equality under authoritarian leadership more so than those with lower incomes. Second, the available research suggests that people from high income category have a tendency to put less weight on income equality than those who have low income, and this is consistent across various kinds of regimes. Third, in a democratic society, people with lower incomes put a larger value on income equality than those with higher incomes do across all regimes.