scholarly journals The dictator effect: how long years in office affect economic development

2014 ◽  
Vol 11 (1) ◽  
pp. 111-139 ◽  
Author(s):  
KOSTADIS J. PAPAIOANNOU ◽  
JAN LUITEN VAN ZANDEN
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Near East ◽  
Economic Policies ◽  
Present Evidence ◽  
Time Period ◽  
Quality Of Institutions ◽  
Long Time ◽  
Negative Effect

AbstractThis paper contributes to the growing literature on the links between political regimes and economic development by studying the effects of years in office on economic development. The hypothesis is that dictators who stay in office for a long time period will find it increasingly difficult to carry out sound economic policies. We argue that such economic policies are the result of information asymmetries inherent to dictatorships (known as the ‘dictator dilemma’) and of changes in the personality of dictators (known as the ‘winner effect’). We call the combination of these two terms the ‘dictator effect’. We present evidence to suggest that long years in office impacts on economic growth (which is reduced), inflation (which increases) and the quality of institutions (which deteriorates). The negative effect of long years of tenure (i.e. the ‘dictator effect’) is particularly strong in young states and in Africa and the Near East.

scholarly journals Democracy and Economic Development: Disentangling the Effect of Elections and Rule of Law

2019 ◽  
Vol 9 (4) ◽  
pp. 173-205
Author(s):  
Yassine Bakkar ◽  
Ali Recayi Ögcem
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Rule Of Law ◽  
Order Effect ◽  
The Political ◽  
Economic Convergence ◽  
First Order ◽  
Quality Of Institutions ◽  
Islamic Countries

Abstract The article provides evidence on how the political settlements—rule of law and elections—would affect the economic development and enhances the economic growth. It empirically investigates whether democracy affects the economic convergence of countries through the quality of institutions: (i) electoral component of democracy, and (ii) rule of law parameters. Investigations differentiate between Islamic and non-Islamic countries. We find that the elections parameter has a first-order effect on economic development; such a relationship is not confirmed for Islamic countries. Rule of law also influences this relationship, but brings less efficient impact to the economic development. Our results are obtained using a sample of 167 countries over the 2010–2012 period.

The Quality of Kazakhstan’s Economic Policy and Balance of Payments

2008 ◽  
pp. 120-132
Author(s):  
K. Arystanbekov
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Development ◽  
Balance Of Payments ◽  
Foreign Investors ◽  
Negative Balance ◽  
Macroeconomic Efficiency

Kazakhstan’s economic policy in 1996-2007, its character and the degree of responsibility, the correlation between economic development and balance of current accounts are considered in the article. Special attention is paid to the analysis of their macroeconomic efficiency. It is concluded that in conditions of high rates of economic growth in Kazahkstan in 2000-2007 the net profits of foreign investors are 10-11% of GDP every year. The tendency of negative balance of current accounts in favor of foreign investors is also analyzed.

scholarly journals EFECT OF FOREIGN EXCHANGE RATE FLUCTUATIONS ON NIGERIAN ECONOMY

10.26458/1814 ◽  
2018 ◽  
Vol 18 (1) ◽  
pp. 105-122
Author(s):  
Lawrence Olisaemeka UFOEZE ◽  
Camilus OKUMA, N. ◽  
Clem NWAKOBY ◽  
Udoka Bernard Alajekwu
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Money Supply ◽  
Significant Positive Effect ◽  
Exchange Rate Fluctuations ◽  
Fixed Exchange Rate ◽  
Oil Revenue ◽  
Time Period ◽  
Negative Effect ◽  
Positive Effect

This study investigated the effect of exchange rate fluctuations on Nigerian economy. The fixed and floating exchange eras were compared to know the exchange rate system in which the economy has fairly better. The time period covered was 1970 to 2012. The study employed the ordinary least square (OLS) multiple regression technique for the analysis. The coefficient of determination (R2), F-test, t-test, beta and Durbin-Watson were used in the interpretation of the results. The resulted revealed that about 85% of the changes in macroeconomic indicators are explained in the fixed exchange era. In the floating exchange era, 99% was explained while the whole periods has 73% explanatory power, hence the floating exchange era (1986 to date) is more effective in explaining economic trend in Nigeria. Also, exchange rate has significant positive effect on GDP during the fixed exchange rate era and negative effect the eras floating and all-time; inflation has insignificant negative effect on GDP during the fixed exchange era; significant effect in floating era and significant negative effect in the all-time period; money supply has insignificant negative effect GDP in fixed exchange era; and significant positive effect during the floating and all-time period; and oil revenue has significant positive effect on the GDP in all the exchange rate regimes (floating, fixed and all-time) in Nigeria.  The study thus conclude that exchange rate movement is a good indicator for monitoring Nigerian economic growth. So far exchange rate has always been a key economic indicator for Nigeria. The floating exchange period has outperformed the fixed exchange rate in terms of contribution inflation, money supply and oil revenue to economic growth. This indicate that the floating exchange rate has been a better economic regime for sustainable economic growth in Nigeria. From the findings, it is evident that oil revenue has positive effect in Nigeria and has remained the mainstay of the economy. It is thus recommended among other things that a positive exchange rate stock should be monitored regularly, so as not to allow those that find exchange rate as an avenue of investment like banks and public carry out their business, which is more devastating to the economy. 

scholarly journals PENGARUH PERTUMBUHAN EKONOMI, UPAH MINIMUM PROVINSI, DAN TINGKAT PENDIDIKAN TERHADAP PENGANGGURAN TERBUKA DI INDONESIA

Jurnal Ecogen ◽  
2018 ◽  
Vol 1 (4) ◽  
pp. 162
Author(s):  
Syurifto Prawira
Keyword(s):  
Economic Growth ◽  
Minimum Wage ◽  
Unemployment Rate ◽  
Secondary Data ◽  
Education Level ◽  
Quality Of Education ◽  
Wage System ◽  
Negative Effect ◽  
The Government

This study aims to analyze the effect of economic growth, provincial minimum wage, and education level on open unemployment rate in Indonesia in 2011-2015, either simultaneously or partially. Using panel data with Fixed Efect Model (FEM) approach and using secondary data of 33 provinces in Indonesia. The model estimation results show that the variable of economic growth, provincial minimum wage, and education level simultaneously have significant effect on open unemployment rate in Indonesia. While the partial variable of economic growth has a negative effect but no significant effect on the unemployment rate. The provincial minimum wage variable is partially positive and significant to the unemployment rate. The variable of educational level also have positive and significant effect to unemployment rate. The government is expected to pay serious attention to economic growth, minimum wage system, improving the quality of education, the issue of availability of employment opportunities. Keyword: Economic Growth, Wage, Education, and Unemployment

scholarly journals The Impact Of Macroeconomic Factors In Economic Growth

2016 ◽  
Vol 12 (7) ◽  
pp. 331 ◽  
Author(s):  
Alush Kryeziu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Public Debt ◽  
Budget Deficit ◽  
Econometric Model ◽  
Macroeconomic Factors ◽  
The Public ◽  
Time Period ◽  
Macroeconomic Indicators ◽  
The Impact

In this paper will be discussed the main concepts and trends of the macro-fiscal indicators in economic growth, as well as their importance in the economic development of different countries, with special emphasis in Kosovo. One of the aims of this paper is to define and explain the connection between macroeconomic indicators with specific emphasis: the public debt, budget deficit and inflation on economic growth. In order to analyze this impact of variables in economic growth, the targeted time period of research is the period from 2004 to 2014. While the data taken regarding Kosovo were obtained from the year 2005, due to the fact that earlier the data have been limited because of the developments in which Kosovo went through. The model that best represents the link between macro-fiscal indicators on economic growth is the linear regression as an econometric model. We will have the opportunity to see and interpret these data. The overall results have emerged in accordance with theoretical discussions presented, but this relationship has not turned out to be very strong because the coefficients acquired did not have great explanatory skills for economic phenomena.

EXPERIENCE OF ECONOMIC REFORMS' IMPLEMENTATION IN POLAND AND UKRAINE

2018 ◽  
Vol 7 (1) ◽  
pp. 10-11
Author(s):  
Lyubov Halkiv ◽  
Galina Myskiv ◽  
Iryna Pasinovych
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
National Economy ◽  
Economic Reforms ◽  
Structural Reforms ◽  
Positive Experience ◽  
Long Time ◽  
Further Development ◽  
The Eu

The article combines the research of a system of indicators and authors’ reflections elaborated on the basis of material. The authors believe that study of Poland's economic reforms will provide an opportunity to apply a positive experience for the further development of the Ukrainian economy. Using different approaches to governance, two countries have reached different results. Today, the gap in the rates of economic development of Ukraine and Poland is increasing. Accession to the EU and systemic structural reforms in the country until 2004 contributed to the acceleration of Poland's economic growth. Ukraine for a long time failed to implement effective reforms, which have caused to the backlog of the national economy from the economies of neighboring countries.

Is convergence rate monotonic?

2007 ◽  
Vol 57 (3) ◽  
pp. 247-261 ◽  
Author(s):  
P. Csillik ◽  
T. Tarján
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Slight Modification ◽  
Quadratic Formula ◽  
The Third ◽  
The Us ◽  
Quality Of Institutions ◽  
Post War ◽  
Stock Of Knowledge

The paper aims to develop a model of nonlinear economic growth — with simple assumptions — which explains both Japan’s S -shape convergence path and the UK’s declining path toward the US between 1870–2000, and the development of other countries, as well as post-war reconstruction. According to the model, progress in stock of knowledge is formed by a quadratic formula of the relative development of follower countries.The model draws on four recent theories. Firstly, Romer’s theory, which approaches a country’s level of development by using the number of its products (Romer 1990), secondly, Jones’ idea theory with a slight modification (Jones 2004), third, the theory of quality of institutions, which determines economic performance (North 1993), and finally, the theory of physical and human capital. The first part of the paper sets up the production function, the second determines the growth rate and analyses the reconstruction path, while the third draws up model forecasts.

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