Template-Type: ReDIF-Paper 1.0
Author-Name: Konstantin Yanovsky
Author-Name-First:  Konstantin  
Author-Name-Last:  Yanovsky
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Sergey Shulgin
Author-Name-First:  Sergey   
Author-Name-Last:  Shulgin
Author-Workplace-Name: Russian Presidential Academy of National Economy and Public Administration
Title: INSTITUTIONS, DEMOCRACY AND GROWTH IN THE VERY LONG RUN
Abstract: In this paper we tested the hypothesis of the "political" basis for the "economic" rights. We constructed our own variables of political regimes' classification for years 1820-2000. We found significant positive interdependencies between the Democracy's indicators and Economic Growth. Protection of the Private property rights requires, first and foremost, due guaranties for the personal immunity as a key precondition. Power to arrest discretionary undermines any formal guaranties of private property, low taxation benefits etc. Personal immunity should be defended even for "unpleasant" person (say, H. Ford or W. Gates) or for the chieftains' challengers (to make "rights of the meanest … respectable to the greatest"). It means the free speech; religious freedom and other "political rights" should be respected. Democracy, as political competition system weakens governments' power to break personal freedoms and property rights.
Length:  18 pages
Creation-Date: 2012
Revision-Date:   2013
Classification-JEL: P16, P50, N40, O43
Keywords:   Rule of Law, Rule of Force, Personal Rights, Private Property Protection, Economic Growth
File-URL: https://www.iep.ru/files/RePEc/gai/wpaper/0058Yanovsky.pdf
File-Format: Application/pdf
File-Function: Revised version, 2013
Handle: RePEc:gai:wpaper:0058