Showing 1 - 10 of 230
We contribute to the post-crisis literature on macroeconomic stability by arguing that polycentric banking systems can better achieve stability than monocentric systems. Building on the theories of E. Ostrom, we engage the literature on free banking systems to show that these systems met the...
Persistent link: https://www.econbiz.de/10013003079
This study investigates the relationship between economic growth and democracy by estimating a nation’s production function specified as static and dynamic models using panel data. In estimating the production function, it applies a single time trend, multiple time trends and the general index...
Persistent link: https://www.econbiz.de/10011669115
This study examines the repercussions of the 1979 Sandinista revolution on Nicaragua's economic growth trajectory. Drawing on the synthetic control method, it constructs an artificial counterpart to Nicaragua with the primary objective of estimating the counterfactual gross domestic product...
Persistent link: https://www.econbiz.de/10014367373
While the association between economic freedom and long-run economic growth is well documented, the parallel research literature on the distributional consequences of economic freedom is full of conflicting findings. In this paper, we take a step towards reconciling the two literatures by...
Persistent link: https://www.econbiz.de/10012145501
Aggregate votes for incumbent parties in post-war Germany were determined by the weighted-average growth of real per capita disposable income and the attrition of power, especially when the Federal Chancellor sought re-election more than twice. Similar to earlier results for the US, each...
Persistent link: https://www.econbiz.de/10003771036
In this paper, a new approach to disclose the impact of politics on economic growth is presented: we use data derived from content analysis of party manifestos as measures of party preferences. In a panel of 23 OECD countries, we detect a positive impact of party support for various...
Persistent link: https://www.econbiz.de/10008702176
While the direct impact of geographic endowments on prosperity is present in all countries, in former colonies, geography has also affected colonization policies and, therefore, institutional outcomes. Using non-colonized countries as a control group, I re-examine the theories put forward by La...
Persistent link: https://www.econbiz.de/10009571204
This paper revisits the relation between democracy, liberalization, and prosperity in transition countries, using a panel of 25 countries over 19 years. Earlier investigations found political and economic liberalization to be positively correlated whereas the relation between political...
Persistent link: https://www.econbiz.de/10009374795
In this paper we explore current understandings of the influence of political rights, among historical legacies, on economic development. We construct variables for selected political regimes for 1811-2010. We find significant association between individual rights and economic growth. We argue...
Persistent link: https://www.econbiz.de/10011398228
Evidence from a novel measure of democracy (SVMDI) based on Support Vector Machines highlights a robust positive relationship between democracy and economic growth. We argue that the ambiguity in recent studies can be traced back to the neglect of the information in the equation in levels and...
Persistent link: https://www.econbiz.de/10010517021