Do Political Institutions Yield Multiple Growth Regimes?

David Coyne () and Chih Ming Tan
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David Coyne: Federal Reserve Bank of Boston, USA

Working Paper series from Rimini Centre for Economic Analysis

Abstract: We investigate the effects of political institutions on economic growth. We specifically explore this relationship while controlling for heterogeneity and model uncertainty. We use threshold regression (Hansen (2000)) to search for possible nonlinearities and/or interaction effects with respect to political institutions. We also implement a novel approach to account for theory uncertainty by applying Bayesian model averaging in the threshold regression context. We find that less democratic countries, specifically those with less competitiveness in executive recruitment, follow a different growth process than those with higher competitiveness.

Keywords: Economic Growth; Institutions; Threshold Regression; Regression Trees; Bayesian Model Averaging (search for similar items in EconPapers)
JEL-codes: C21 C51 O43 O47 (search for similar items in EconPapers)
Date: 2012-06
New Economics Papers: this item is included in nep-fdg and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Do political institutions yield multiple growth regimes? (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:rim:rimwps:36_12

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