Has Democracy Slowed Growth in Asia?

Michael T. Rock

World Development, 2009, vol. 37, issue 5, pages 941-952

Abstract: Summary Has democracy slowed growth in Asia? While there are a number of reasons to suggest that it has, no one has tested this hypothesis. Hypotheses linking Asia's democracies and autocracies to growth are tested in a within panel regression framework that controls for country fixed effects, global time fixed effects, the other major variables affecting growth, and for endogeneity between the right-hand side regressors. The democracy slows growth hypothesis is tested against the toughest counterfactual--the bureaucratically capable authoritarian regimes of East Asia's developmentally minded governments. Findings reject the democracy slows growth hypothesis and show that democracy causes growth and investment to rise.

Keywords: democracy; autocracy; growth; Asia; developmental; states (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:eee:wdevel:v:37:y:2009:i:5:p:941-952

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