Time-Consistent Polities and Growth in Developing Countries: An Empirical Analysis

James Butkiewicz and Halit Yanıkkaya

No 05-02, Working Papers from University of Delaware, Department of Economics

Abstract: Property rights are known to promote economic growth. Durable political regimes, regardless of type, can create stable environments that facilitate growth. Polity stability has an effect similar to property rights, promoting investment enhancing growth. Examination of the growth effects of regime stability finds that stable polities are important for growth in autocracies, but not democracies. That regime stability is not important for democracies indicates that parameter heterogeneity can be important when estimating empirical growth models. Not just democracies, but also stable autocracies with predictable rules-of-the-game create positive environments for economic growth.

Keywords: Property Rights; Stability; Growth; Democracy; Autocracy (search for similar items in EconPapers)
JEL-codes: H11 O40 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2005
New Economics Papers: this item is included in nep-dev, nep-pbe and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Time-Consistent Polities and Growth in Developing Countries: An Empirical Analysis (2007)
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