Hierarchy,Liberty,and Economic Growth:Democracys Unique Advantage in Promoting Economic Growth
Bringing together classic theory of democracy, endogenous growth theory, institutionaleconomics, and social psychology of hierarchy, we contend that the channel of liberty-(institutional and technological) innovation is the most critical channel in which democracy holds an unique advantage over autocracy in promoting economic growth, especially when an economy reaches the stage of growth via innovation.Because hierarchy facilitates growth by bringing stability and order yet also harms growth by demanding obedience to authority, an economy must strike a bahnce between maintaining socio-political stability and facilitating innovation.Democracy achieves this balance by protecting liberty whereas autocracy sacrifices innovation for stability.As such, democracy holds a unique advantage over autocracy when it comes to growth via innovation.Principal predictions of our theory are supported by both quantitative evidences and historical cases.Our theory promises to integrate and reconcile many seemingly unrelated and often contradictory theories and evidences regarding political regime and growth.
TANG Shiping
Fudan University
国际会议
The 1st Chinese Conference on Comparative Political Economy (第一届比较政治经济学国际学术会议)
北京
英文
370-408
2013-09-08（万方平台首次上网日期，不代表论文的发表时间）