The Co-Evolution of Economic and Political Development

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to...

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Main Author: Huang, Fali
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2006
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Online Access:https://ink.library.smu.edu.sg/soe_research/916
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Institution: Singapore Management University
Language: English
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spelling sg-smu-ink.soe_research-19152010-09-23T05:48:03Z The Co-Evolution of Economic and Political Development Huang, Fali This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables the respective factor owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation. 2006-06-01T07:00:00Z text https://ink.library.smu.edu.sg/soe_research/916 Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Growth and Development Political Science
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Growth and Development
Political Science
spellingShingle Growth and Development
Political Science
Huang, Fali
The Co-Evolution of Economic and Political Development
description This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables the respective factor owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation.
format text
author Huang, Fali
author_facet Huang, Fali
author_sort Huang, Fali
title The Co-Evolution of Economic and Political Development
title_short The Co-Evolution of Economic and Political Development
title_full The Co-Evolution of Economic and Political Development
title_fullStr The Co-Evolution of Economic and Political Development
title_full_unstemmed The Co-Evolution of Economic and Political Development
title_sort co-evolution of economic and political development
publisher Institutional Knowledge at Singapore Management University
publishDate 2006
url https://ink.library.smu.edu.sg/soe_research/916
_version_ 1770569339016052736