Democracy-growth nexus and its interaction effect on human development: a cross-national analysis

Saha, Shrabani and Zhang, Zhaoyong (2017) Democracy-growth nexus and its interaction effect on human development: a cross-national analysis. Economic Modelling, 63 . pp. 304-310. ISSN 0264-9993

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Abstract

This paper examines the democracy-growth nexus and its interactive effect on human development by using cross-national panel data spanning over 20 years incorporating the effect of democratization process. We find evidence that the effect from democracy to human development is nonlinear and varies depending on the levels of growth and democracy. The results confirm that the interaction effect of democracy-growth nexus has a positive impact on human development but the effect is sensitive to democratization process and the level of a country’s economic development. It is established that democracy is more crucial in developed countries, whereas economic growth is vital in developing countries. The findings imply that the role of democracy in enhancing human development should not be overemphasized as economic growth is vital in the developing countries.

Keywords:Democracy, human development, Economic growth
Subjects:N Business and Administrative studies > N190 Business studies not elsewhere classified
L Social studies > L160 International Economics
Divisions:Lincoln International Business School
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ID Code:26471
Deposited On:22 Feb 2017 14:40

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