Democracy and economic growth; hypotheses and patterns in the data
This article examines various theoretical arguments and empirical findings in the literature concerning the impact of democracy on economic growth. Despite an increasing number of studies suggesting significant economic benefits associated with democracy, there remains no consensus on whether democracy enhances economic growth. Some policymakers and academics argue that authoritarian regimes are necessary for promoting economic development, especially in poorer countries, a perspective often referred to as the 'Lee Thesis' (Sen 1999, 15)...