The current study empirically investigates whether democracy affects per capita income level in the countries. Specifically, the study employs empirical specifications to examine the influences of anti-democratic shocks on income per capita levels in the countries across the globe. In order to investigate the impact of anti-democratic shocks on economic developments, the study uses anti-democratic coups d’état which have occurred in some countries in the last century. Coups could have considerable positive or negative effects on both democracy and economic prosperity of countries. Therefore, coups can be used as the determining factors to examine the association between democracy and economic growth. Examining the issue from this perspective generates new thoughts that may help explaining the association between democracy and economic development.
DEMOCRACY AND ECONOMIC GROWTH
ISBN: 978-625-8405-21-7
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