Democracy, Governance, and Economic Performance: Theory and EvidenceMIT Press, 2003 - 383 pages In this book, Yi Feng combines political and economic analyses to study the effects of political institutions on economic performance. Traditionally, political scientists disregard details of economic conditions, while economists may not take into consideration a systematic explanation of political regimes. The growing interest in the interplay of political and economic systems, spurred by the political democratization and economic liberalization evident in many countries over the last twenty years, merits this new perspective. The book examines the political determinants of economic growth, and, specifically, the controversial question of the relationship between democracy and quality of life. Feng systematically studies three variables of a political system--political freedom, political stability, and policy certainty--and relates them to economic development. He examines the political factors that may affect patterns of growth directly or indirectly. Combining theory and country-specific case studies, Democracy, Governance, and Economic Performance demonstrates that political institutions and conditions do matter in economic growth. After establishing a theoretical foundation, Feng tests it by examining the direct effects of the three key political variables on economic growth and the indirect effects of democracy in terms of other variables (political instability, inflation, investment, education, income distribution, property rights, and population growth). He concludes by considering the policy implications of these results. |
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Contents
Introduction | 1 |
12 A Basic Puzzle | 3 |
13 An Analytical Structure | 9 |
14 Outline of the Book | 13 |
The Fundamental Political Environment for Economic Growth | 15 |
21 The Basic Model | 16 |
22 A Theoretical Discussion | 21 |
23 Some Casual Observations | 28 |
81 Political Systems Political Stability and Human Capital | 190 |
82 Measurement of Human Capital | 198 |
83 Some Preliminary Data on Education and Democracy | 203 |
84 Model Specification | 205 |
85 Empirical Analysis | 207 |
86 Summary and Policy Implications | 210 |
Democracy and Income Inequality Reconsidered | 213 |
91 Theories and Findings on Democracy and Income Distribution | 214 |
24 Summary and Policy Implications | 36 |
Measuring Political Freedom Stability and Certainty | 39 |
31 Political Freedom and Liberal Democracy | 40 |
32 Political StabilityInstability | 51 |
33 Policy CertaintyUncertainty | 57 |
34 Joint Examination of Freedom Stability and Certainty | 60 |
Testing the Political Determinants of Long Run Economic Growth | 65 |
41 Methodology | 66 |
42 The Statistical Model | 69 |
43 Empirical Results | 73 |
44 Continental Effects | 82 |
Thailand | 86 |
46 Summary and Policy Implications | 89 |
Democracy Stability and Growth A Simultaneous Approach | 93 |
51 A SimultaneousEquations Model | 95 |
52 Data and Specification | 103 |
Three Sets of Nested Relationships | 109 |
54 Summary and Policy Implications | 119 |
Political Institutions and Inflation An Evaluation of Three Models | 123 |
Three Models | 126 |
62 Preliminary Empirical Evidence | 136 |
63 Model Specification and Data | 141 |
64 Empirical Evidence | 147 |
65 Summary and Policy Implications | 153 |
Political Institutions and Private Investment | 157 |
71 The Political Environment of Private Investment | 158 |
72 Specification and Data | 169 |
Domestic Private Investment | 174 |
Foreign Direct Investment | 180 |
75 Summary and Policy Implications | 184 |
The Political Economy of HumanCapital Accumulation | 189 |
92 Measurement Issues | 224 |
93 Model Specification | 228 |
94 Empirical Evidence | 241 |
95 Summary and Policy Implications | 248 |
Political Freedom and Economic Freedom | 251 |
101 Definitions and Examples | 252 |
102 Literature Review | 255 |
103 Method and Data | 260 |
104 Empirical Results | 263 |
Indonesia | 268 |
106 Summary and Policy Implications | 272 |
Births and Politics | 275 |
111 Literature Review | 276 |
112 A PoliticalEconomic Model | 279 |
113 Empirical Results | 281 |
China | 283 |
115 Summary and Policy Implications | 293 |
Conclusions | 295 |
121 Summaries of Major Findings | 296 |
122 Some Policy Implications | 299 |
123 Related and Future Research | 307 |
Political Rights and CivilLiberties Indices | 313 |
Institutionalized Democracy Index | 315 |
A Brief Review of the Literature on Democracy Stability and Growth | 319 |
Weighted Scores in the WorldEvent Interaction Survey Data Set | 323 |
Coverage of Income Distribution by the Gini Coefficient | 327 |
Measures of Economic Freedom | 331 |
Notes | 333 |
References | 349 |
379 | |
Other editions - View all
Democracy, Governance, and Economic Performance: Theory and Evidence Yi Feng No preview available - 2003 |
Common terms and phrases
References to this book
Politics and Government in Hong Kong: Crisis Under Chinese Sovereignty Ming Sing Limited preview - 2009 |
Private Enterprises and China's Economic Development Shuanglin Lin,Xiaodong Zhu No preview available - 2007 |