The growth theory of new political economy distinguishes two types of political instability - elite (violent coups, riots) and non-elite (non-violent government breakdowns). The purpose of the paper is to show that elite political stability is not a necessary condition for economic growth, i.e....

The growth theory of new political economics defines some factors that are necessary for economic growth among which political stability. There are distinguished two types of political instability - elite and non-elite - in topical literature. While non-elite political instability concerns about...