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The impact of democracy on economic growth — Carl Henrik Knutsen

In Pursuit of Development

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The Argument for Democracy Growth

One of the traditional arguments against democracy is the short sightedness of economic policies pursued by democratically elected leaders. Carl Henry: I think there's much to that argument, but we also have other channels to which democracy enhances growth as primarily to education and spending more rapid technological innovation and diffusion etc. But again, there is this enormous variation among autocracies so thinking carefully through the counterfactual is an important caveat.

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