Swiss Economicblogs.org
This book aims to clarify the relationship between politics and economic growth. A systematic evaluation of this relationship using a comprehensive survey of cross-country data demonstrates that measures of democracy are less successful as indices of economic growth than are measures of policy volatility. This finding is important. It tends to challenge the current concentration of analysis of the “democracy-dictator” dichotomy as an indicator of growth and thus calls into question much of the received wisdom on the subject. The author suggests that stability and predictability are features which are key elements for fostering economic growth, rather than the political regime itself. However, the book also contends that democracy offers the most stable and predictable system in the long term, since it reduces the discretionary power of politicians and bureaucrats and encourages transparency.
Author: Aymo Brunetti
Binding: Paperback
EAN: 9789264160170
Manufacturer: Organization for Economic Co-operation and Development (OECD)
Number of items: 1
Number of pages: 155
Product group: Book
Studio: Organization for Economic Co-operation and Development (OECD)
Publication Date: 1998-01-28
Publisher: Organization for Economic Co-operation and Development (OECD)
Pages: 155
ISBN: 9264160175