THE RELATIONSHIP BETWEEN DEMOCRACY AND ECONOMIC GROWTH IN MUSLIM MENA COUNTRIES (SPATIAL ECONOMETRIC APPROACH)
Arash Nayebyazdi ()
Journal of Smart Economic Growth, 2017, vol. 2, issue 3, 123-155
Impact of democracy and governance on the economic growth and development has always been a matter of conflict among researchers. In this research, by using data of 18 Muslim countries of MENA region during 2008-2014 by spatial econometric approach, impact of democracy on the economic growth is studied by democeracy index. The results show that democracy in the surveyed region has had a negative impact on the economic growth. The results of spatial panel data model indicate that there is a spatial relationship between the economic growth of MENA region countries and physical capital has also a spatial spillover effect.
Keywords: Democracy; Economic growth; Spatial econometrics (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:seg:012016:v:2:y:2017:i:3:p:123-155
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