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Political instability and economic growth |
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| Authors: | Alberto Alesina Sule Özler Nouriel Roubini Phillip Swagel |
| Affiliation: | (1) Department of Economic, Harvard University, 02138 Cambridge, MA, USA;(2) National Bureau of Economic Research, and Center for Economic Policy Research, USA;(3) Department of Economics, University of California at Los Angeles, 90024 Los Angeles, CA, USA;(4) Stern School of Business, New York University, 10012 New York, NY, USA;(5) National Bureau of Economic Research; and Center for Economic Policy Research, USA;(6) Department of Economics, Northwestern University, 60208 Evanston, IL, USA |
| Abstract: | This paper investigates the relationship between political instability and per capita GDP growth in a sample of 113 countries for the period 1950 through 1982. We define political instability as the propensity of a government collapse, and we estimate a model in which such a measure of political instability and economic growth are jointly determined. The main result of this paper is that in countries and time periods with a high propensity of government collapse, growth is significantly lower than otherwise. We also discuss the effects of different types of government changes on growth. |
| Keywords: | political instability economic growth government changes coup d'etat |
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