The Relationship Between Democratization and Maintained Economic Success: An Empirical Analysis
Open Access
Author:
Lederer, Ava Louise
Area of Honors:
International Politics
Degree:
Bachelor of Arts
Document Type:
Thesis
Thesis Supervisors:
Vineeta Yadav, Thesis Supervisor Dr. Gretchen G Casper, Thesis Honors Advisor
Keywords:
success economy democracy democratization development
Abstract:
For decades, prominent democracies, including the United States, have encouraged—and in some cases even forced—democracy in other countries on the basis that it is the best solution for countries’ political and economic issues. Since the next few decades are a key time for currently developing countries to become significant forces in the world economy, many with non-democratic political systems, it is necessary to understand what the best course of action is to encourage domestic economic growth. Supporting economic growth in these countries is imperative for the future of the global economy. Using multivariate and simple linear regressions, this study examines the connection between degrees of democracy and maintained economic success. This study finds compelling evidence that the relationship between degree of democracy and economic success over time is insignificant. Alone, degree of democracy seems to have a negative impact on economic success, but the introduction of other variables decreases democratization’s impact. Though democracy is successful in wealthy countries, it may not be the answer for creating and maintaining economic success.
