The Democracy–Economy-Nexus

Brieger Stefan () and Markwardt Gunther ()
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Brieger Stefan: Technische Universität Dresden, Dresden, Germany
Markwardt Gunther: Brandenburg University of Technology & CESifo, Cottbus, Germany

Review of Economics, 2020, vol. 71, issue 2, 135-167

Abstract: Despite a sizeable theoretical and empirical literature, no firm conclusions have been drawn regarding the democracy–economy-nexus. This paper aims to assess the twosided relationship between democracy and economic development based on the current state of research. Literature will be used to examine whether and how democracy affects economic development, as well as the reverse question. Does economic development influence the form of government of a society, i.e. can it promote or hinder a transition from autocracy to democracy? In addition to approaches that postulate a positive relationship, we will also present perspectives that either negatively interpret a correlation between the two variables or completely negate it.

Keywords: democracy; economic development; modernisation theory; survey (search for similar items in EconPapers)
JEL-codes: O1 O17 O43 P16 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1515/roe-2020-0031

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