Political Factors in Economic Development

Comparative studies of the relationship between economic development and variables of a political nature have attracted considerable interest in the last decade. Advances in the measurement, or codification, of heretofore completely unquantified variables and the introduction into the field of more sophisticated empirical methods, such as factor analysis and dummy variable regression analysis, have facilitated a rigorous statistical approach to the study of the interactions of political factors-with economic development in cross polity samples. The purpose of this article is to amplify the limited empirical evidence on the relationship between economic development and political factors. Determinants of economic development have been variously classified and studied. With regard to the role of political factors in the process of development, the interest has greatly increased since the emergence of the many new nations. Various questions have been asked as to which political factors explain better the variations in the economic performance of countries at different stages of economic development. This article will examine a large sample of nations and identify the political factors that play a significant role in explaining the variations in the level of economic development among them. One can look at economic development both in terms of growth rates and in terms of levels of development. This study uses the variable economic development in the latter context by employing, as an indicator of development, the Gross Domestic Product per Capita.1

Economics · Political economy · Political science · Politics · Economic Growth and Development · Fiscal Policy and Economic Growth · Law · Political Conflict and Governance

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