Reconsideration of Democracy as the Premises for Growth

Economists of different schools of thought, including neoclassical and institutional economists, are of the opinion that democracy is the premises for growth. In fact, sustainable development goals cannot obtain without transparency, referring to people’s votes, separation of executive and legislative officials, accountability, responding to the public and recognizing the principles of good governance. While this is well established, we can assume that a country will move towards the sustainable development. However, democracy has a gradual and fluctuated process which can be efficient and fruitful only after a country reaches a high stage and achieve a high level of growth. Therefore, interpreting “democracy as the premises of growth” and “lightening the concept of democracy by referring to election and people’s votes” may rather become an impediment factor to growth. Experience of countries such as china during the last four decades illustrate that totalitarian state can facilitate growth and that there is no correlation between democracy and growth.