Institutional Performance of Democracy and Authoritarianism: Evidence from the Panel Dataof the Four Asian Tigers

There are two competing approaches, namely, the “Asian exceptionalism” and “Universalism,” in regard to the political economy of the Asian tigers. The former argues that authoritarianism based on the “Asian values” has performed better than the democratic regimes in terms of influencing the course of economic development and income distribution. By contrast, following the democratization of Korea and Taiwan, the universalism approach claims that the Asian experience is not exceptional at all.

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