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.
|Authors||McManus, R. and Ozkan, G.|
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.
|Keywords||Constitutional economics; form of government; economic growth; inflation; income inequality|
|Journal citation||176 (3-4), pp. 361-387|
|Online||02 May 2018|
|Publication process dates|
|Deposited||20 Mar 2018|
|Accepted||10 Mar 2018|
|Accepted author manuscript|
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