Economic and Social Growth between Democracy and Dictatorship

Debates on Political Regime and Development Connection

Abstract

The relationship between political regimes and economic prosperity is a complex and multifaceted issue that has been a topic of great interest in the field of social sciences for many years. Several scholars have attempted to study the impact of political democracy as well as authoritarianism on economic growth, but the results have been mixed and inconclusive. The relationship between regime type and economic performance is influenced by various factors, including institutions, policies, investment, human capital, and access to natural resources. Although non-democratic regimes may promote short-term economic growth, there is uncertainty surrounding their long-term sustainability due to their tendency to lack accountability, transparency, and adherence to the rule of law. On the other hand, democratic regimes provide a more stable environment for economic growth and development. The relationship between dictatorship and economic growth is quite complex, with the literature presenting several conflicting views. While a dictatorship can facilitate quick decision-making and offer stability, it can also negatively impact human rights, political freedom, and economic growth. The relationship between democracy and economic growth is also widely debated, with some studies finding a positive relationship, while others have reported a negative or a non-existent relationship. It is important to note that the correlation between democracy and economic growth does not necessarily imply causality, and there are many other factors that can affect both regime type and growth systematically. The impact of regime transition on economic growth, specifically from a dictatorship to a democracy or from one democratic system to another, is also a subject of significant debate among scholars. While a regime transition to a democracy can lead to increased political and economic freedom, accountability, and improved economic policies, it can also cause instability, short-term economic contraction, and policy uncertainty. Overall, the relationship between political regimes and economic growth remains a complex and multifaceted issue that requires further research and reflection. The relationship between regime type, the form of democracy, and the impact of regime transition on growth are all crucial factors in understanding the effect of political regimes on economic prosperity.