Who is afraid of political instability?

被引：93

作者：

Campos, NF

Nugent, JB ^{[1
]}

机构：

[1] Univ So Calif, Dept Econ, Los Angeles, CA 90089 USA

[2] Univ Michigan, William Davidson Inst, Ann Arbor, MI 48109 USA

[3] Univ Newcastle, CEPR, Dept Econ, London, England

来源：

JOURNAL OF DEVELOPMENT ECONOMICS | 2002年 / 67卷 / 01期

关键词：

economic growth; political instability; Granger causality;

D O I：

10.1016/S0304-3878(01)00181-X

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

An unstable macroeconomic environment is often regarded as detrimental to economic growth. Among the sources contributing to such instability, much of the blame has been assigned to political issues. This paper empirically tests for a causal and negative long-run relation between political instability and economic growth but finds no evidence of such a relationship. Sensitivity analysis indicates that there is a contemporaneous negative relationship but also that, in the long run and ignoring institutional factors, the group of African countries plays the determining role. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：157 / 172

页数：16