How Did Varying Forms of Democratic Government Affect Economic Growth in Asia?
Date
2015
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Abstract
The unresolved debate of whether democracy promotes economic growth continues among political scientists and economists. This thesis focuses on the specific forms of executive government in democratically elected systems, to examine their relationship with economic growth. The empirical analysis in the paper examines three varying forms of democratic government – parliamentarism, semi-presidentialism, and presidentialism – to test their impact on economic growth in Asia during the period 1960 to 2001. Using three regression strategies (OLS panel-corrected standard error, country fixed effects, and two-stage least squares country fixed effects), the results indicate that varying forms of democratic government do not seem to have a significant effect on economic growth, measured by real GDP per capita, in the Asian economies examined over this period. These findings are in keeping with mixed results reported in the literature, on the interplay of political systems and various factors contributing to economic growth.