Aisen, Ari; Veiga, Francisco José - International Monetary Fund (IMF) - 2011
The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using … from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per … capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the …