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Curse of Democracy: Evidence from 2020

Yusuke Narita () and Ayumi Sudo

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

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.

Pages: 32 pages
Date: 2021-04
New Economics Papers: this item is included in nep-cna and nep-pol
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https://www.rieti.go.jp/jp/publications/dp/21e034.pdf (application/pdf)

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Working Paper: Curse of Democracy: Evidence from 2020 (2021) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:21034

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