Curse of Democracy: Evidence from 2020
| Autor: | Ayumi Sudo, Yusuke Narita |
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| Rok vydání: | 2021 |
| Předmět: | |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.3827327 |
| Popis: | Countries with more democratic political regimes experienced greater GDP loss and more deaths from COVID-19 in 2020. Using five different instrumental variable strategies, we find that democracy is a major cause of the wealth and health losses. This impact is global and is not driven by China and the US alone. A key channel for democracy’s negative impact is weaker and narrower containment policies at the beginning of the outbreak, not the speed of introducing policies. |
| Databáze: | OpenAIRE |
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