Pascual is a Ph.D. candidate in economics at MIT, working on macro, labour, and political economy. His research interests include the impact of technology and structural change on labour markets and factor prices; effect of institutions and culture on social outcomes, and the process of institutional change; and crime, violence, corruption and illegal markets. Before MIT, he studied Math and Economics at Los Andes University in Bogota, Colombia, where he was born.
Does democracy cause growth?
03 Jun 2016
Many analysts view democracy as a neutral or negative factor for growth. This column discusses new evidence showing that democracy has a robust and sizeable pro-growth effect. It finds that a country that switches from non-democracy to democracy achieves about 20% higher GDP per capita over the subsequent three decades.
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