The Relationship between Democracy and Economic Growth: An Empirical Analysis

The effect of democracy on economic growth receives excellent attention in theoretical and empirical studies. However, much-existing literature provides conflicting views growth. For this reason, paper aims to empirically investigate the relationship between thirty-three countries from 2010 2020. This examines context panel data framework. study investigates by employing Panel unit root, cointegration tests, vector error correction model (VECM) methodology associated with Wald test approaches. preliminary results show that has a positive Furthermore, long-run causality runs real GDP, both variables are cointegrated. conclude well-functioning political system upgrading democratic accountability can positively contribute higher rate.