40 Views

interrelationship between democracy and economic growth? 300 words


Meer Yawar 5th Mar, 2022
Answer (1)
Meshwa Rana 5th Mar, 2022

Examine the link between democracy and economic growth. The empirical situation, on the other hand, is intriguing but not decisive. The statistics support the compatibility theory, which states that democracy has a net beneficial effect on economic development. However, the link is weak empirically, and there are several counter-examples in both directions: authoritarian regimes with strong development records and democratic regimes with poor development records. Political stability, not a specific political institution, is what is important for economic progress. Because it is safe to believe that any political institution will support development as long as it is stable, political instability is a hazard. And, as assessed by the frequency of strikes, protests, and riots in the past, it is far higher in democracies and much lower in dictatorships, for example. When the rulers' tenure is threatened, growth in dictatorships is dramatically slowed. Strikes, anti-government demonstrations, and riots all produce similar effects. When the regime is endangered or changes are expected, employees or large groups of people go on strike to protest the government, and the economy suffers as a result. This is less common in democracies, as institutions, not individuals, are responsible for maintaining democracy. Everyone understands that the government will change from time to time, and they also understand that they can protest in the same manner.

Related Questions

Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR
Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates, and judiciaries
Amity University, Noida BBA A...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
UPES | BBA Admissions 2025
Apply
#41 in NIRF, NAAC ‘A’ Grade | 100% Placement, up to 30% meritorious scholarships | Last Date to Apply: 28th Feb
MAHE Manipal M.Tech 2025
Apply
NAAC A++ Accredited | Accorded institution of Eminence by Govt. of India | NIRF Rank #4
Sanskriti University LLM Admi...
Apply
Best innovation and research-driven university of Uttar Pradesh
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books