The Coevolution of Economic and Political Development

Fali Huang ()

No 22-2006, Working Papers from Singapore Management University, School of Economics

Abstract: This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different production factors, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation.

Keywords: Economic Development; Political Development; Class Structure; Land; Physical Capital; Human Capital; Monarchy; Suffrage Extension. (search for similar items in EconPapers)
JEL-codes: N10 O10 O40 P16 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2006-08
New Economics Papers: this item is included in nep-dev, nep-pol, nep-sea and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published in SMU Economics and Statistics Working Paper Series

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Related works:
Working Paper: The Coevolution of Economic and Political Development (2006)
Working Paper: The Coevolution of Economic and Political Development (2006)
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