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Democracy and the variability of economic performance

Almeida, Heitor and Ferreira, Daniel (2002) Democracy and the variability of economic performance. Economics and Politics, 14 (3). pp. 225-257. ISSN 1468-0343

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Abstract

Sah (1991) conjectured that more centralized societies should have more volatile economic performances than less centralized ones. We show in this paper that this is true both for cross–country and within–country variability in growth rates. It is also true for some measures of policies. Finally, we show that both the best and worst performers in terms of growth rates are more likely to be autocracies. We argue that the evidence in the paper is consistent with the theoretical implications in Sah and Stiglitz (1991) and Rodrik (1999a).

Item Type: Article
Official URL: http://www.blackwellpublishing.com/journal.asp?ref...
Additional Information: © 2002 Blackwell Publishing
Library of Congress subject classification: H Social Sciences > HB Economic Theory
J Political Science > JF Political institutions (General)
Journal of Economic Literature Classification System: H - Public Economics > H1 - Structure and Scope of Government > H11 - Structure, Scope, and Performance of Government
O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O50 - General
P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy
P - Economic Systems > P5 - Comparative Economic Systems > P51 - Comparative Analysis of Economic Systems
Sets: Departments > Finance
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 01 Dec 2011 17:02
URL: http://eprints.lse.ac.uk/39857/

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