Political development and economic performance in the last 200 years

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F22%3A43921287" target="_blank" >RIV/62156489:43110/22:43921287 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1556/032.2022.00002" target="_blank" >https://doi.org/10.1556/032.2022.00002</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1556/032.2022.00002" target="_blank" >10.1556/032.2022.00002</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Political development and economic performance in the last 200 years

Popis výsledku v původním jazyce

The aim of the paper is to verify whether there has been a causal relationship between economic performance and the quality of political environment in the last 200 years. Mainly, the paper explores the bi-directorial causality for the period of 1821-2016. To attain the aim, the paper uses Granger causality test. The differences between the individual regions (Europe, Latin America and former British colonies) are taken into consideration. Economic performance is expressed as annual growth rate of GDP per capita (taken from Maddison Project Database); the quality of political environment is associated with the Electoral Democracy Index and the Liberal Democracy Index (from the V-Dem Project). The paper offers three findings. Firstly, the results indicate that a statistically significant relationship between economic performance and political development was identified for the researched period. Secondly, bi-directorial causality was peculiar to the European countries, whereas the linkage was not identified within other regions. Thirdly, the results for the sub-periods confirm the previous conclusions with two additions. The quality of political environment and economic performance did not interact with each other in the period of 1821-1870 across all three regions, while in the period after World War II, bi-directorial causal relationship could also exist in the Latin American economies.

Název v anglickém jazyce

Political development and economic performance in the last 200 years

Popis výsledku anglicky

The aim of the paper is to verify whether there has been a causal relationship between economic performance and the quality of political environment in the last 200 years. Mainly, the paper explores the bi-directorial causality for the period of 1821-2016. To attain the aim, the paper uses Granger causality test. The differences between the individual regions (Europe, Latin America and former British colonies) are taken into consideration. Economic performance is expressed as annual growth rate of GDP per capita (taken from Maddison Project Database); the quality of political environment is associated with the Electoral Democracy Index and the Liberal Democracy Index (from the V-Dem Project). The paper offers three findings. Firstly, the results indicate that a statistically significant relationship between economic performance and political development was identified for the researched period. Secondly, bi-directorial causality was peculiar to the European countries, whereas the linkage was not identified within other regions. Thirdly, the results for the sub-periods confirm the previous conclusions with two additions. The quality of political environment and economic performance did not interact with each other in the period of 1821-1870 across all three regions, while in the period after World War II, bi-directorial causal relationship could also exist in the Latin American economies.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Acta Oeconomica

ISSN

0001-6373

e-ISSN

1588-2659

Svazek periodika

72

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

HU - Maďarsko

Počet stran výsledku

21

Strana od-do

25-45

Kód UT WoS článku

000789139300002

EID výsledku v databázi Scopus

2-s2.0-85128219227