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Democracy And Growth: A Dynamic Panel Data Study

Author

Listed:
  • JEFFRY A. JACOB

    (Department of Business and Economics, Bethel University, 3900 Bethel Dr., St. Paul, MN 55112, USA)

  • THOMAS OSANG

    (Department of Economics, Southern Methodist University, 3300 Dyer St., Dallas, TX 75275, USA)

Abstract

In this paper, we investigate the idea whether democracy has a direct effect on economic growth. We use a system GMM framework that allows us to model the dynamic aspects of the growth process and control for the endogenous nature of many explanatory variables. In contrast to the growth effects of institutions, regime stability, openness, geography and macro-economic policy variables, we find that measures of democracy matter little, if at all, for the economic growth process.

Suggested Citation

  • Jeffry A. Jacob & Thomas Osang, 2020. "Democracy And Growth: A Dynamic Panel Data Study," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(01), pages 41-80, March.
    • Handle: RePEc:wsi:serxxx:v:65:y:2020:i:01:n:s0217590817470075
    DOI: 10.1142/S0217590817470075
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    Citations

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    Cited by:

    1. James Ang, 2020. "Editorial: Special Issue On Economic Growth," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(01), pages 1-2, March.
    2. Elvis Dze Achuo & Simplice A. Asongu & Vanessa S. Tchamyou, 2022. "Women empowerment and environmental sustainability in Africa," Working Papers of The Association for Promoting Women in Research and Development in Africa (ASPROWORDA). 22/003, The Association for Promoting Women in Research and Development in Africa (ASPROWORDA).
    3. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121246, University Library of Munich, Germany.
    4. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Vezzulli, Andrea, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," EconStor Preprints 298787, ZBW - Leibniz Information Centre for Economics.
    5. Ofori, Isaac K. & Gbolonyo, Emmanuel Y. & Ojong, Nathanael, 2024. "Heterogeneous Effects of Frontier Technology Readiness on Economic Growth in Africa," MPRA Paper 121247, University Library of Munich, Germany.

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