Who does better for the economy? Presidents versus parliamentary democracies

McManus, R. and Ozkan, G. (2018) Who does better for the economy? Presidents versus parliamentary democracies. Public Choice, 176 (3-4). pp. 361-387.

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Are certain forms of government associated with superior economic outcomes? This paper attempts to answer that question by examining how government systems influence macroeconomic performance. We find that presidential regimes consistently are associated with less favorable outcomes than parliamentary regimes: slower output growth, higher and more volatile inflation and greater income inequality. Moreover, the magnitude of the effect is sizable. For example, annual output growth is between 0.6 and 1.2 percentage points lower and inflation is estimated to be at least four percentage points higher under presidential regimes relative to those under parliamentary ones.

Item Type: Article
Additional Information: Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0 International License http://creativecommons.org/licenses/by/4.0/
Uncontrolled Keywords: Constitutional economics; form of government; economic growth; inflation; income inequality
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions > HC0059 Economic development
Divisions: Faculty of Social and Applied Sciences > The Business School
Depositing User: Richard McManus
Date Deposited: 20 Mar 2018 14:18
Last Modified: 23 Aug 2018 08:45
URI: https://create.canterbury.ac.uk/id/eprint/17101

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Last edited: 29/06/2016 12:23:00