STUDYING THE INTERPLAY BETWEEN POLITICS AND ECONOMICS IN SHAPING DEVELOPMENT OUTCOMES IN DIFFERENT REGIONS    

Authors : Dr. SEEMA RANAWAT

Publishing Date : 2023

DOI : https://doi.org/10.52458/9789388996570.2023.eb.ch55

ISBN : 978-93-88996-58-7

Pages : 316-322

Chapter id : NSP/ICAAR-2023/A-55

Abstract : The interplay between politics and economics is of paramount importance in determining development results in various geographical areas. This study analyzes the interaction of political institutions, economic policies, and development results, with a specific emphasis on the impact of political stability, governance quality, and economic strategies on growth, poverty reduction, and social well-being. The paper critically examines the existing body of knowledge on the influence of political and economic elements on growth, emphasizing fundamental theories and actual evidence from different geographical areas. This article use line diagrams to visually represent the patterns and relationships between political and economic indicators and development results. The results emphasize the need of utilising integrated methodologies that take into account both political and economic aspects when developing strategies for sustainable development.

Keywords : Politics, Economics, Development Outcomes, Political Stability, Economic Policy, Governance

Cite :

References :
  1. Acemoglu, D., Johnson, S., & Robinson, J. A. (2001). The colonial origins of comparative development: An empirical investigation. American Economic Review, 91(5), 1369-1401.
  2. Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Crown Business.
  3. Chang, H. J. (2002). Kicking Away the Ladder: Development Strategy in Historical Perspective. Anthem Press.
  4. Collier, P., & Hoeffler, A. (2004). Greed and grievance in civil war. Oxford Economic Papers, 56(4), 563-595.
  5. Dornbusch, R., & Edwards, S. (1991). The macroeconomics of populism in Latin America. In R. Dornbusch & S. Edwards (Eds.), The Macroeconomics of Populism in Latin America (pp. 7-13). University of Chicago Press.
  6. Fukuyama, F. (2014). Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy. Farrar, Straus and Giroux.
  7. Keefer, P., & Knack, S. (2002). Polarization, politics, and property rights: Links between inequality and growth. Public Choice, 111(1-2), 127-154.
  8. Krueger, A. O. (1974). The political economy of the rent-seeking society. American Economic Review, 64(3), 291-303.
  9. Lake, D. A., & Baum, M. A. (2001). The invisible hand of democracy: Political control and the provision of public services. Comparative Political Studies, 34(6), 587-621.
  10. North, D. C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge University Press.
  11. Przeworski, A., Alvarez, M. E., Cheibub, J. A., & Limongi, F. (2000). Democracy and Development: Political Institutions and Well-Being in the World, 1950-1990. Cambridge University Press.
  12. Rodrik, D. (1994). Getting interventions right: How South Korea and Taiwan grew rich. Economic Policy, 10(20), 55-107.
  13. Rodrik, D. (2000). Institutions for high-quality growth: What they are and how to acquire them. Studies in Comparative International Development, 35(3), 3-31.
  14. Rodrik, D. (2006). Goodbye Washington consensus, hello Washington confusion? A review of the World Bank's Economic Growth in the 1990s: Learning from a Decade of Reform. Journal of Economic Literature, 44(4), 973-987.
  15. Rodrik, D. (2008). One economics, many recipes: Globalization, institutions, and economic growth. Princeton University Press.
  16. Roland, G. (2000). Transition and Economics: Politics, Markets, and Firms. MIT Press.
  17. Williamson, J. (1990). What Washington means by policy reform. In J. Williamson (Ed.), Latin American Adjustment: How Much Has Happened? (pp. 5-20). Institute for International Economics.
  18. World Bank. (1993). The East Asian Miracle: Economic Growth and Public Policy. Oxford University Press