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  • Are authoritarian states better at delivering economic growth?

George Magnus

Insights into the global economy

Are authoritarian states better at delivering economic growth?

Short answer: only in the early stages of development

by George Magnus / March 20, 2018 / Leave a comment
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Xi Jinping sits central in the Great Hall of the People in Beijing. Photo: Ding Lin/Xinhua News Agency/PA Images

Russia’s Vladimir Putin, who was re-elected (unsurprisingly) over the weekend, and China’s Xi Jinping, who has just been confirmed as President without term limits by the Chinese Communist Party, are the leading figureheads in an unsettling world of rising authoritarianism that sits in sharp contrast to the one in which most of us grew up. About two-fifths of states deemed to be autocratic nowadays are “strongman” regimes, and most of the world’s population now lives in states that are deemed to be not free or only partly free. Welcome to the world of “bad emperors.”

The so-called “bad emperor” problem originated in China. It is not so much about autocracy, per se, because benevolent and wise autocratic rulers can do good things. The devilish question is how to guarantee a persistent supply of good rulers, and the answer is that it is impossible. The political dynamics of bad emperors or strongman regimes include a tendency to unpredictability, the pursuit of policies that are likely to be volatile, and a greater possibility of the initiation of conflict and tension abroad.

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About this author

George Magnus
George Magnus is a well known economist, former Chief Economist at UBS and author of "Uprising: Will Emerging Markets Shape or Shake the World Economy?" (John Wiley)
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