Political Representation and Economic Growth
DOI :
https://doi.org/10.5281/zenodo.13926933Résumé
This paper constitutes the first study of its kind to conduct an empirical investigation of the relationship between representation as a political institution and economic growth in a panel data analysis. Showcasing two novel indicators of political representation that can significantly account for long-run cross-country differences in various measures of economic development, I employ two-step system GMM estimations to empirically test the growth effect of inclusiveness of political representation processes across 38 European countries in the 1950-2010 period. The results show that economic growth rates across Europe in the given time period has not depended on inclusiveness of said countries’ political institutions of representation, providing further evidence for the vein of institutional economics research that finds no relationship between features of democracy and growth.
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