Who does better for the economy? Presidents versus parliamentary democracies

Journal article


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

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.

KeywordsConstitutional economics; form of government; economic growth; inflation; income inequality
Year2018
JournalPublic Choice
Journal citation176 (3-4), pp. 361-387
PublisherSpringer
Official URLhttps://link.springer.com/journal/11127
Publication dates
Online02 May 2018
Publication process dates
Deposited20 Mar 2018
Accepted10 Mar 2018
Accepted author manuscript
Output statusPublished
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/

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