Democracy and Efficiency: Making Transition Towards an Empirical Approach

24 Pages Posted: 13 Aug 2009 Last revised: 18 May 2010

See all articles by Deen Taposh

Deen Taposh

National Research Council Canada

Date Written: August 11, 2009

Abstract

The relationship between democracy and efficiency has long been the interest of both economists and political scientists. However, no general consensus has been reached yet on this topic. There exist two schools of thought who has been pioneered this debate. According to Chicago school of thought, led by Gary Becker and Donald Wittman, democracy produces efficient results while Buchanan and Wagner (1977) and Olson (1982), of Virginia school of thought, think otherwise. However, their arguments for and against democracy was based on theoretical justification. In this paper, the author tries to address the question from purely an empirical point of view.

Keywords: democracy, economics, empirical relationship

JEL Classification: O11

Suggested Citation

Taposh, Deen Mohammad Mahbub Alam, Democracy and Efficiency: Making Transition Towards an Empirical Approach (August 11, 2009). Trust, Civil Society, & Economic Development Paper. Available at SSRN: https://ssrn.com/abstract=1447336 or http://dx.doi.org/10.2139/ssrn.1447336

Deen Mohammad Mahbub Alam Taposh (Contact Author)

National Research Council Canada ( email )

Ottawa, Ontario
Canada

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