2017
DOI: 10.1016/s1514-0326(17)30007-7
|View full text |Cite
|
Sign up to set email alerts
|

Is Gerontocracy Harmful for Growth? a Comparative Study of Seven European Countries

Abstract: We study the relationship between gerontocracy and aggregate economic performance in a simple model where growth is driven by human capital accumulation and productive government spending. We show that less patient élites display the tendency to underinvest in public education and productive government services, and thus are harmful for growth. The damage caused by gerontocracy is mainly due to the lack of long-term delayed return on investments, originated by the lower subjective discount factor. An empirical… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
2
1
1
1

Citation Types

3
9
0
2

Year Published

2017
2017
2024
2024

Publication Types

Select...
5
3
1

Relationship

1
8

Authors

Journals

citations
Cited by 21 publications
(14 citation statements)
references
References 33 publications
3
9
0
2
Order By: Relevance
“…Despite our data do not allow to disentangle between intensive and extensive margin in labor market, this result is in line with the existing evidence on the role of public intervention as a significant driver of job creation and growth (see e.g. Aschauer 1989Aschauer , 1990Richmond 1992, 1993;Morrision and Schwartz 1996;Everaert and Heylen 2001;Bom and Ligthart 2008;Heintz 2010;Atella and Carbonari 2017).…”
Section: Introductionsupporting
confidence: 88%
“…Despite our data do not allow to disentangle between intensive and extensive margin in labor market, this result is in line with the existing evidence on the role of public intervention as a significant driver of job creation and growth (see e.g. Aschauer 1989Aschauer , 1990Richmond 1992, 1993;Morrision and Schwartz 1996;Everaert and Heylen 2001;Bom and Ligthart 2008;Heintz 2010;Atella and Carbonari 2017).…”
Section: Introductionsupporting
confidence: 88%
“…Yet, this explanation is flatly contradicted by the results of most of the empirical research to date. Older leaders produce less economic growth in democracies (Atella & Carbonari, 2017) and in autocracies (Jong‐A‐Pin & Mierau, 2011, p. 289). They are also more likely to initiate international conflicts (Horowitz, McDermott, & Stam, 2005; Potter, 2007) and to become the target of interstate disputes (Bak & Palmer, 2010), and less likely to win wars in which they are involved (Simonton, 1984).…”
Section: Are Older Leaders Better?mentioning
confidence: 99%
“…In the same spirit, Geys and Mause (2016) find that in the United Kingdom, retiring MPs (i.e., those over 65 who do not intend to run for reelection) are more prone to shirking in the strict sense—that is, substituting leisure for work (see also Willumsen & Goetz, 2017; Lott, 1990, and Clark & Lucas Williams, 2014 on the United States; Bailer & Ohmura, 2018 on Germany). Shorter time horizons may also be the reason behind the poor economic performance of aging leaders: in democracies, older politicians become less likely to invest in policies that would benefit growth in the long run (Atella & Carbonari, 2017; McClean, 2019); in autocracies, they become more likely to prey on the economy in order to maximize their own wealth (Jong‐A‐Pin & Mierau, 2011, p. 289).…”
Section: Are Older Leaders Better?mentioning
confidence: 99%
“…Based on the concept of gerontocracy, it emphasizes in age criteria, perhaps the +60-year-old leader is desirable (Atella & Carbonari, 2017;Bytheway, 1995). However, this system always gives an opportunity to the young generation, in the case that it must make sure that the next candidates will be loyal to the old system.…”
Section: Ruled By the Old Monksmentioning
confidence: 99%