Publication Type
Working Paper
Version
publishedVersion
Publication Date
8-2006
Abstract
This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different production factors, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation.
Discipline
Growth and Development | Political Economy
Research Areas
Macroeconomics
First Page
1
Last Page
28
Publisher
SMU Economics and Statistics Working Paper Series, No. 22-2006
City or Country
Singapore
Citation
HUANG, Fali.
The Coevolution of Economic and Political Development. (2006). 1-28.
Available at: https://ink.library.smu.edu.sg/soe_research/1207
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.