net effect of democracy on growth performance cross-nationally over the last five decades is negative or null
Gerring, J., Bond, P., Barndt, W., & Moreno, C. (2005). Democracy andeconomic growth: A historical perspective. World Politics, 57(3), 323-364.
Robert J. Barro, “Democracy and Growth,” Journal of Economic Growth 1 (March 1996)
Yi Feng, “Democracy, Political Stability and Economic Growth,” British Journal of Political Science 27 ( July 1997)
idem, Democracy, Governance, and Economic Performance: Theory and Evidence (Cambridge:
MIT Press, 2003)
Jonathan Krieckhaus, “The Regime Debate Revisited: A Sensitivity Analysis of Democracy’s Economic Effect,” British Journal of Political Science (forthcoming)
Charles K. Kurzman, Regina W. Werum, and Ross E. Burkhart, “Democracy’s Effect on Economic Growth: A Pooled Time-Series Analysis, 1951–1980,” Studies in Comparative International Development 37 ( January 2002)
Adam Przeworski and Fernando Limongi, “Political Regimes and Economic Growth,” Journal
of Economic Perspectives 7 (Summer 1993)
idem, “Modernization: Theories and Facts,” World Politics 49 ( January 1997)
Adam Przeworski, Michael Alvarez, Jose Antonio Cheibub, and Fernando Limongi, Democracy and Development: Political Institutions and Material Well-Being in the World, 1950–1990 (Cambridge: Cambridge University Press, 2002).
Elias Papaioannou and Gregorios Siourounis and Dani Rodrik and Romain Wacziarg find a relationship between episodes of democratization (if sustained) and growth rates in subsequent years, though they make no claims about the effect of democracy per se on growth performance; see Papaioannou and Siourounis, “Democratization and Growth,”Working Paper (London Business School, October 2004);
Rodrik and Wacziarg, “Do Democratic Transitions Produce Bad Economic Outcomes?” (Manuscript, December 2004).
Barro finds that “growth is increasing in democracy at low levels of democracy, but the relation turns
negative once a moderate amount of political freedom is attained”; Barro, Determinants of Economic
Growth (Cambridge: MIT Press, 1997).
A few recent studies find a positive overall relationship between democracy and growth, but this is not the standard finding. These recent studies include
Surjit S. Bhalla, “Freedom and Economic Growth: A Virtuous Cycle?” in Axel Hadenius, ed., Democracy’s Victory and Crisis (Cambridge: Cambridge University Press, 1997)
David A. Leblang, “Political Democracy and Economic Growth: Pooled Cross-Sectional and Time-Series Evidence,” British Journal of Political Science 27 ( July 1997).