In this book, Yi Feng combines political and ecomic analyses to study the effects of political institutions on ecomic performance. Traditionally, political scientists disregard details of ecomic conditions, while ecomists may t take into consideration a systematic explanation of political regimes. The growing interest in the interplay of political and ecomic systems, spurred by the political democratization and ecomic liberalization evident in many countries over the last twenty years, merits this new perspective. The book examines the political determinants of ecomic growth, and, specifically, the controversial question of the relationship between democracy and quality of life. Feng systematically studies three variables of a political system -- political freedom, political stability, and policy certainty -- and relates them to ecomic development. He examines the political factors that may affect patterns of growth directly or indirectly. Combining theory and country-specific case studies, Democracy, Governance, and Ecomic Performance demonstrates that political institutions and conditions do matter in ecomic growth. After establishing a theoretical foundation, Feng tests it by examining the direct effects of the three key political variables on ecomic growth and the indirect effects of democracy in terms of other variables (political instability, inflation, investment, education, income distribution, property rights, and population growth). He concludes by considering the policy implications of these results.
Yi Feng is the Luther Lee Chair in Government at Claremont Graduate University, where he also works as Provost and Vice President for Academic Affairs.