Institutions, democracy and economic growth. Facts, theories and beyond

Growth and democracy represent two profound aspirations of mankind: prosperity and freedom. The present book provides a framework for the analysis of the relationship between institutions, democracy and growth and it is proposed to scholars in the field of social sciences, post-graduate students and simply curious people. It offers empirical evidence, theoretical analysis and further perspectives on the effects of democracy on economic growth. The exploration is undertaken by addressing both political science and economics contributions to the understanding of the democracy/growth nexus, highlighting a core characteristic of the relationship between democracy and growth: the nexus exists, it is strong, but it is indirect, channelled by institutions. Institutions – properly “unbundled” – are then pivotal in the transmission of the effects of democracy on growth.