Democracy, Institutional Maturity, and Economic Development

Uk Heo and Sung Deuk Hahm

Social Science Quarterly, 2015, vol. 96, issue 4, 1041-1058

Abstract: type="main">

Despite a plethora of studies on the relationship between democracy and economic development, a dominant theoretical framework has yet to emerge. Economic development may lead to the transition to democracy and mature democratic institutions are likely to help economic development. Thus, in this article, we test the relationship among economic development, institutional maturity, and democracy.

In a recent study, Gerring et al. (2005) developed a new concept, “democracy stock,” to incorporate institutional maturity. This concept is useful because institutional maturity matters. To address the issue of endogeneity between democracy and economic development, we investigate the relationship using a simultaneous equation method and data from 1950 to 2000.

The empirical results show that democracy and economic development affect each other.

Economic development not only helps democratization, but it also assists democratic systems to survive and mature. Mature democratic systems do help economic development.

Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://hdl.handle.net/10.1111/ssqu.12185 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:socsci:v:96:y:2015:i:4:p:1041-1058

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0038-4941

Access Statistics for this article

Social Science Quarterly is currently edited by Robert L. Lineberry

More articles in Social Science Quarterly from Southwestern Social Science Association
Bibliographic data for series maintained by Wiley Content Delivery ().