IMF working paper links democracy and GDP growth

International Monetary Fund headquarters

There is a direct correlation between the emergence of more open and democratic societies and GDP growth, asserts a recent working paper from the International Monetary Fund (IMF)

The paper, written by Sophia Gollwitzer Franke and Marc Quinton, aims to econometrically measure the impact upon economic growth of societies moving from being closed and containing barriers to access and entry, to being more open and with more perpetual institutions.

Chief among the conclusions of the research are the

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