DEMOCRACY, PROPERTY-RIGHTS AND ECONOMIC-GROWTH

What does the global surge in democracy and capitalism portend for eco nomic growth? The shift toward popular government is predicted by some to accelerate growth, by others to retard it. Often left out of the e quation is property rights as a factor distinct from democratic rule. Using recent data on 59 less developed and transitional countries, thi s article explores the relationship among institutional factors and gr owth in the 1980s and early 1990s. Democratic freedoms and property ri ghts are associated with the dependent variable, suggesting that natio nal income in poor countries stands to gain from recent efforts, to im plant these institutions.