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Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000

Research output: Working paperResearch

Standard

Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. / Bjørnskov, Christian; Kurrild-Klitgaard, Peter.

Aarhus : Aarhus School of Business, Aarhus University, Department of Economics, 2008.

Research output: Working paperResearch

Harvard

Bjørnskov, C & Kurrild-Klitgaard, P 2008 'Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000' Aarhus School of Business, Aarhus University, Department of Economics, Aarhus.

APA

Bjørnskov, C., & Kurrild-Klitgaard, P. (2008). Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. Aarhus: Aarhus School of Business, Aarhus University, Department of Economics.

CBE

Bjørnskov C, Kurrild-Klitgaard P. 2008. Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. Aarhus: Aarhus School of Business, Aarhus University, Department of Economics.

MLA

Bjørnskov, Christian and Peter Kurrild-Klitgaard Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. Aarhus: Aarhus School of Business, Aarhus University, Department of Economics. 2008., 50 p.

Vancouver

Bjørnskov C, Kurrild-Klitgaard P. Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. Aarhus: Aarhus School of Business, Aarhus University, Department of Economics. 2008.

Author

Bjørnskov, Christian ; Kurrild-Klitgaard, Peter. / Economic Growth and Institutional Reform in Modern Monarchies and Republics: A Historical Cross-Country Perspective 1820-2000. Aarhus : Aarhus School of Business, Aarhus University, Department of Economics, 2008.

Bibtex

@techreport{51eb1f10646911dd9876000ea68e967b,
title = "Economic Growth and Institutional Reform in Modern Monarchies and Republics:: A Historical Cross-Country Perspective 1820-2000",
abstract = "Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820-2000 to explore whether regime types and institutional reforms have differential growth effects in monarchies and republics. A set of Barro-type regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of large-scale reforms do. Specifically, we find a strong {"}valley-of-tears{"} effect of large reforms in republics while monarchies benefit from such reforms in the ten-year perspective adopted here. We offer some tentative thoughts on the underlying mechanisms responsible for the results.",
keywords = "Growth, Institution, Reform, Monarchy",
author = "Christian Bj{\o}rnskov and Peter Kurrild-Klitgaard",
year = "2008",
language = "English",
isbn = "9788778823540",
publisher = "Aarhus School of Business, Aarhus University, Department of Economics",
address = "Denmark",
type = "WorkingPaper",
institution = "Aarhus School of Business, Aarhus University, Department of Economics",

}

RIS

TY - UNPB

T1 - Economic Growth and Institutional Reform in Modern Monarchies and Republics:

T2 - A Historical Cross-Country Perspective 1820-2000

AU - Bjørnskov, Christian

AU - Kurrild-Klitgaard, Peter

PY - 2008

Y1 - 2008

N2 - Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820-2000 to explore whether regime types and institutional reforms have differential growth effects in monarchies and republics. A set of Barro-type regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of large-scale reforms do. Specifically, we find a strong "valley-of-tears" effect of large reforms in republics while monarchies benefit from such reforms in the ten-year perspective adopted here. We offer some tentative thoughts on the underlying mechanisms responsible for the results.

AB - Standard theoretical arguments suggest that republics ought to grow faster than monarchies and experience lower transitional costs following reforms. We employ a panel of 27 countries observed from 1820-2000 to explore whether regime types and institutional reforms have differential growth effects in monarchies and republics. A set of Barro-type regressions show that there are no significant growth differences between the two regime types and that the effects of incremental reforms do not differ between them, but that those of large-scale reforms do. Specifically, we find a strong "valley-of-tears" effect of large reforms in republics while monarchies benefit from such reforms in the ten-year perspective adopted here. We offer some tentative thoughts on the underlying mechanisms responsible for the results.

KW - Growth, Institution

KW - Reform

KW - Monarchy

M3 - Working paper

SN - 9788778823540

BT - Economic Growth and Institutional Reform in Modern Monarchies and Republics:

PB - Aarhus School of Business, Aarhus University, Department of Economics

CY - Aarhus

ER -