Curse of Democracy: Evidence from 2020
Yusuke Narita () and
Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)
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,ã€€not the speed of introducing policies.
Pages: 32 pages
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Working Paper: Curse of Democracy: Evidence from 2020 (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:21034
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