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Democracy and economic growth in an interdependent world

Mamata Parhi, B Ouattara, C Diebolt, T Mishra, Tapas Mishra

Review of International Economics, Volume: 21, Issue: 4, Start page: 733-749

Swansea University Authors: Mamata Parhi, Tapas Mishra

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DOI (Published version): 0.1111/roie.12067

Abstract

A spatial vector autoregression framework is set up to examine the dynamics of interdependence between democratic distance among countries and their long-run growth processes. We focus on (both geographic and relational attributes of) democratic distribution and find evidence of significant dynamic...

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Published in: Review of International Economics
ISSN: 1467-9396
Published: 2013
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URI: https://cronfa.swan.ac.uk/Record/cronfa7096
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first_indexed 2013-07-23T11:57:16Z
last_indexed 2018-02-09T04:34:53Z
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spelling 2013-09-19T20:57:06.8360997 v2 7096 2012-02-10 Democracy and economic growth in an interdependent world 3da14f8468834f53c117ec55004de083 Mamata Parhi Mamata Parhi true false 73e49f705d1fef7c76512fcb69e5d98f Tapas Mishra Tapas Mishra true false 2012-02-10 ECON A spatial vector autoregression framework is set up to examine the dynamics of interdependence between democratic distance among countries and their long-run growth processes. We focus on (both geographic and relational attributes of) democratic distribution and find evidence of significant dynamic spatial autocorrelation among countries' growth processes indicating the existence of high degree of complementarity. Our estimation of a convergence-pattern framework also provides new insights into the likely impact of democracy on economic growth over decades. We find that democracy has exerted persistent growth-enhancing effect since 1970 where the democratic distribution has steadily shifted from low-level equilibrium to high-level equilibrium. Finally, it is demonstrated that the relevance of geographical proximity in facilitating interdependence in economic growth is overshadowed by relational proximity represented by democratic distance. Our results hold interesting policy implications. Journal Article Review of International Economics 21 4 733-749 1467-9396 31 12 2013 2013-12-31 0.1111/roie.12067 http://onlinelibrary.wiley.com/doi/10.1111/roie.12067/abstract Forthcoming COLLEGE NANME Economics COLLEGE CODE ECON Swansea University 2013-09-19T20:57:06.8360997 2012-02-10T21:16:38.6530000 Faculty of Humanities and Social Sciences School of Management - Business Management Mamata Parhi 1 B Ouattara 2 C Diebolt 3 T Mishra 4 Tapas Mishra 5
title Democracy and economic growth in an interdependent world
spellingShingle Democracy and economic growth in an interdependent world
Mamata Parhi
Tapas Mishra
title_short Democracy and economic growth in an interdependent world
title_full Democracy and economic growth in an interdependent world
title_fullStr Democracy and economic growth in an interdependent world
title_full_unstemmed Democracy and economic growth in an interdependent world
title_sort Democracy and economic growth in an interdependent world
author_id_str_mv 3da14f8468834f53c117ec55004de083
73e49f705d1fef7c76512fcb69e5d98f
author_id_fullname_str_mv 3da14f8468834f53c117ec55004de083_***_Mamata Parhi
73e49f705d1fef7c76512fcb69e5d98f_***_Tapas Mishra
author Mamata Parhi
Tapas Mishra
author2 Mamata Parhi
B Ouattara
C Diebolt
T Mishra
Tapas Mishra
format Journal article
container_title Review of International Economics
container_volume 21
container_issue 4
container_start_page 733-749
publishDate 2013
institution Swansea University
issn 1467-9396
doi_str_mv 0.1111/roie.12067
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
url http://onlinelibrary.wiley.com/doi/10.1111/roie.12067/abstract
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description A spatial vector autoregression framework is set up to examine the dynamics of interdependence between democratic distance among countries and their long-run growth processes. We focus on (both geographic and relational attributes of) democratic distribution and find evidence of significant dynamic spatial autocorrelation among countries' growth processes indicating the existence of high degree of complementarity. Our estimation of a convergence-pattern framework also provides new insights into the likely impact of democracy on economic growth over decades. We find that democracy has exerted persistent growth-enhancing effect since 1970 where the democratic distribution has steadily shifted from low-level equilibrium to high-level equilibrium. Finally, it is demonstrated that the relevance of geographical proximity in facilitating interdependence in economic growth is overshadowed by relational proximity represented by democratic distance. Our results hold interesting policy implications.
published_date 2013-12-31T03:08:47Z
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score 10.998116

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