Democracy Does Cause Growth

@article{Acemoglu2019DemocracyDC,
  title={Democracy Does Cause Growth},
  author={Daron Acemoglu and Suresh Naidu and Pascual Restrepo and James A. Robinson},
  journal={Journal of Political Economy},
  year={2019},
  volume={127},
  pages={47 - 100}
}
We provide evidence that democracy has a positive effect on GDP per capita. Our dynamic panel strategy controls for country fixed effects and the rich dynamics of GDP, which otherwise confound the effect of democracy. To reduce measurement error, we introduce a new indicator of democracy that consolidates previous measures. Our baseline results show that democratizations increase GDP per capita by about 20 percent in the long run. We find similar effects using a propensity score reweighting… 
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