Do political institutions yield multiple growth regimes?

David Coyne () and Chih Ming Tan
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David Coyne: Federal Reserve Bank of Boston

Economics Bulletin, 2012, vol. 32, issue 2, 1442-1454

Abstract: We investigate the effects of political institutions on economic growth. We specifically explore this relationship while controlling for heterogeneity and model uncertainty. We use threshold regression (Hansen 2000) to search for possible nonlinearities and/or interaction effects with respect to political institutions. We also implement a novel approach to account for theory uncertainty by applying Bayesian model averaging in the threshold regression context. We find that less democratic countries, specifically those with less competitiveness in executive recruitment, follow a different growth process than those with higher competitiveness.

Keywords: Economic Growth; Institutions; Threshold Regression; Regression Trees; Bayesian Model Averaging (search for similar items in EconPapers)
JEL-codes: C2 O4 (search for similar items in EconPapers)
Date: 2012-05-14
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Do Political Institutions Yield Multiple Growth Regimes? (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-12-00325

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