Political Instability and Growth in Dictatorships

Jody Overland, Kenneth Simons and Michael Spagat ()
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Jody Overland, Kenneth Simons and Michael Spagat: Department of Economics, Royal Holloway, University of London
Authors registered in the RePEc Author Service: Michael Spagat, Kenneth L. Simons and Jody Robert Overland ()

No 03/11, Royal Holloway, University of London: Discussion Papers in Economics from Department of Economics, Royal Holloway University of London

Abstract: We model growth in dictatorships facing each period an endogenous probaibility of "political catastrophe" that would extinguish the regime's wealth ability. Domestic capital exhibits a bifurcation point determining economic growth or shrinkage. With low initial domestic capital the dictator plunders the country's resources and the economy shrinks. With high initial domestic capital the economy eventually grows faster than is socially optimal.

Keywords: Dictatorship; Growth; Political stability; Plunder (search for similar items in EconPapers)
Pages: 25 pages
Date: 2003-12, Revised 2003-12
New Economics Papers: this item is included in nep-dev, nep-mac and nep-pol
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Related works:
Journal Article: Political instability and growth in dictatorships (2005)
Working Paper: Political Instability and Growth in Dictatorships (2000)
Working Paper: Political Instability and Growth in Dictatorships (2000)
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