DOES DEMOCRACY PROMOTE THE RULE OF LAW?

Andreas Assiotis and Kevin Sylwester
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Kevin Sylwester: Southern Illinois University, Carbondale, USA

Journal of Economic Development, 2015, vol. 40, issue 1, 63-92

Abstract: Recent studies find that democracy increases economic growth but often do not address through what channels such an effect could travel. This study considers whether or not democracy strengthens the rule of law, an institutional measure purported to increase economic growth. Utilizing a panel dataset from 1984 to 2007 for 127 countries and both fixed effect and dynamic GMM methodologies, we examine whether democracy promotes the rule of law. We generally find a short run positive influence upon the rule of law although effects are greatest for low income countries.

Keywords: Democratization; Institutions; Rule of Law; Economic Growth (search for similar items in EconPapers)
JEL-codes: O40 O50 O55 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:40:y:2015:i:1:p:63-92

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