Reanalysing the link between democracy and economic development
Lars Pelke
Abstract:This article systematically reanalyses the long-run effects of democracy on economic prosperity by using new Varieties of Democracy and gross domestic product (GDP) per capita data for a panel data set between 1789 and 2019. Adopting (a) dynamic panel strategies controlling for country and year-fixed effects and (b) newly introduced matching methods for time-series cross-sectional data, the findings clearly indicate that democracy substantively increases economic development. My reanalysis of Acemoglu et al.'s… Show more
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