The Coevolution of Economic and Political Development from Monarchy to Democracy

Fali Huang ()

Development Economics Working Papers from East Asian Bureau of Economic Research

Abstract: This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of dierent production factors and the political con.icts among factor owners on how to divide the outputs. The main production factor in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capitalists, and workers) to gain political power in the same sequence, shaping the political development path from monarchy to oligarchy and .nally to democracy with full surage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political con.icts may lead to economic stagnation.

Keywords: economic development; Political Development; Democratization; Class Structure; land; Physical Capital; Human Capital; Monarchy; Oligarchy; democracy (search for similar items in EconPapers)
JEL-codes: N10 O10 O40 P16 (search for similar items in EconPapers)
Date: 2007-01
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: THE COEVOLUTION OF ECONOMIC AND POLITICAL DEVELOPMENT FROM MONARCHY TO DEMOCRACY (2012)
Working Paper: The Coevolution of Economic and Political Development from Monarchy to Democracy (2007)
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