Katharina Böhm-Klamt
Broschiertes Buch

Growth of GDP per capita and Democracy. A Simultaneous Equation Generalized Probit Model

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Master's Thesis from the year 2015 in the subject Economics - Economic Cycle and Growth, grade: 1, Vienna University of Economics and Business (Institut für Makroökonomie), language: English, abstract: The paper examines a potential reverse causality between the growth of GDP per capita and Democracy (data from Policy IV project). Therefore, a simultaneous equation generalized probit model is used. In the first step, the model is estimated under the assumption that the relationship between economic growth and democracy is linear and in the second step under the assumption the relationship is...