Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 6, 2019 erstellt
Description:
This paper examines whether autocracy is a gamble. Using robust variance tests and other analyses, we find that long-term growth varies more across autocracies than across democracies. This remains true even when richer countries are excluded from the sample. We also investigate channels, to see if the higher variance of growth outcomes across autocracies can be traced to a higher variance in investment ratios or TFP growth rates. Overall, the paper's findings suggest that the varieties of autocracy matter more for growth than the varieties of democracy. Contrary to advocates of strong states, autocracy remains a gamble