The Political Dynamics of Economic Growth

Kunal Sen

World Development, 2013, vol. 47, issue C, 71-86

Abstract: We argue that an understanding of the political drivers of economic growth needs an explanation of the political dynamics around the transition from one growth phase to another, and that the political drivers of early stage growth accelerations are different from that of growth maintenance. Informal institutions are likely to play a role in growth acceleration, while formal institutions of credible commitment, the provisioning of public goods and the overcoming of co-ordination failures will be more important in growth maintenance. We present empirical evidence drawn from country case-studies and cross-country econometric analysis that provides support to our theoretical propositions.

Keywords: political dynamics; political settlements; economic growth; institutions; growth phases (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (27)

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Working Paper: The political dynamics of economic growth (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:wdevel:v:47:y:2013:i:c:p:71-86

DOI: 10.1016/j.worlddev.2013.02.015

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