Curse of Democracy: Evidence from 2020

Yusuke Narita (yusuke.narita@yale.edu) and Ayumi Sudo
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Ayumi Sudo: Yale University

No 2281, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: Countries with more democratic political regimes experienced greater GDP loss and more deaths from Covid-19 in 2020. Using five different instrumental variable strategies, we find that democracy is a major cause of the wealth and health losses. This impact is global and is not driven by China and the US alone. A key channel for democracy's negative impact is weaker and narrower containment policies at the beginning of the outbreak, not the speed of introducing policies.

Keywords: Democracy; Economic Growth; Public Health; Pandemic; Instrumental Variables (search for similar items in EconPapers)
Pages: 32 pages
Date: 2021-04
New Economics Papers: this item is included in nep-cna
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Citations: View citations in EconPapers (4)

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