SHS Web Conf.
Volume 163, 20232023 8th International Conference on Social Sciences and Economic Development (ICSSED 2023)
|Number of page(s)||4|
|Section||Economic Trade and Financial Investment Analysis|
|Published online||28 April 2023|
Correlation between Economic Development and Regime Types
1 University of Rochester, Rochester, NY 14627
1 Northeastern university, Boston, MA, U.S, 02120
Democracy is considered by many to be the ultimate form of government. This paper tries to identify the effects of choosing certain regime types over others on the economic development of that society. Through careful review of several scholars’ works on this topic, this study finds that several key factors, such as how long has the newly created democracy existed, how well democratic institutions are established (free and fair elections, control over economy, rule of law etc.). Simply transitioning into a democracy does not guarantee economic growth, but maturing as a democracy does. This study seeks to provide a meaningful discussion and help its audience understand the more specific details of each type of regime, thus allowing for a closer examination of the debate of democracy versus autocracy. Through this paper, readers will be able to understand what makes a mature democracy, and how does a mature democracy help economic development.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0 (https://creativecommons.org/licenses/by/4.0/).
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