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Socioeconomic transitions as common dynamic processes

Erich Gundlach () and Martin Paldam ()
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Martin Paldam: Department of Economics and Business Economics, Aarhus University, Denmark, Postal: 8210 Aarhus V, Denmark

Economics Working Papers from Department of Economics and Business Economics, Aarhus University

Abstract: Long-run socioeconomic transitions can be observed as stylized facts across countries and over time. For instance, poor countries have more agriculture and less democracy than rich countries, and this pattern also holds within countries for transitions from a traditional to a modern society. It is shown that the agricultural and the democratic transitions can be partly explained as the outcome of dynamic processes that are shared among countries. We identify the effects of common dynamic processes with panel estimators that allow for heterogeneous country effects and possible cross-country spillovers. Common dynamic processes appear to be in line with alternative hypotheses on the causes of socioeconomic transitions.

Keywords: Long-run development; agriculture; democracy; socioeconomic transitions; mean group estimators; technology heterogeneity; cross-section independence (search for similar items in EconPapers)
JEL-codes: O1 P5 Q1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro and nep-pol
Date: 2016-07-04
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