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date: 20 February 2020

Abstract and Keywords

This article discusses the poor performance of poor democracies. The article points to recent literature on political market imperfections as a way to explain anomalies in the relationship between economic performance and regime type. The first section looks at the poor countries and their respective policies, while the second section attempts to explain the ambiguity in the democracy-growth relationship. It studies the political market imperfections and the heterogeneous democratic performance, and discusses democratization, the role of history, and puzzles in the literature on democracy. The article ends with a discussion of incomplete information, which is one imperfection of the political market.

Keywords: poor performance, poor democracies, imperfections, economic performance, regime type, poor countries, democracy-growth relationship, democratic performance, incomplete information

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