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Book Cover
Author Aisen, Ari, 1971- author

Title How does political instability affect economic growth? / Ari Aisen and Francisco Jose Vega
Published [Washington, D.C.] : International Monetary Fund, [2011]
Online access available from:
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Description 1 online resource (28 pages)
Series IMF working paper ; WP/11/12
IMF working paper ; WP/11/12
Contents Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Data and the Empirical Model; III. Empirical Results; IV. Conclusions; References; Footnotes
Summary The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect
Notes "January 2011."
At head of title: Middle East and Central Asia Department
Title from PDF title page (IMF Web site, viewed March 24, 2011)
Bibliography Includes bibliographical references (pages 27-28)
Subject Economic development -- Political aspects -- Econometric models.
Form Electronic book
Author Veiga, Francisco José, author
International Monetary Fund. Middle East and Central Asia Department, issuing body
ISBN 1283565919