Constitutional monarchy and long-run economic growth : friends or foes?

Garoupa, Nuno (avtor), Spruk, Rok (avtor)

This article examines the long-run relationship between constitutional monarchy and economic growth using a panel of 37 countries from 1870 to 2018. Exploiting the staggered timing of regime transitions as a source of quasi-experimental variation, we reassess whether monarchies promote prosperity or merely survive because of it. The results suggest that pre-existing economic development, rather than monarchical institutions themselves, explains the persistence of constitutional monarchy. The apparent growth advantage of monarchies is concentrated among wealthier pre-war states, where fiscal capacity and institutional maturity sustained stability. In poorer settings, constitutional monarchies failed to generate lasting growth and were eventually replaced by republican regimes, which subsequently outperformed them. These findings imply that prosperity sustains monarchy, not the reverse, and that contemporary constitutional monarchies represent the historical survivors of economic success rather than its institutional cause.

• Jezik: Angleški jezik
• Ključne besede: democracy, monarchy, political economy, economic growth, constitutional monarchy, long-run growth, prosperity
• Vrsta gradiva: Članek v reviji
• Tipologija: 1.01 - Izvirni znanstveni članek
• Organizacija: EF - Ekonomska fakulteta
• Status publikacije: V tisku
• Različica publikacije: Objavljena publikacija
• Leto izida: 2025
• PID: 20.500.12556/RUL-179892
• UDK: 330.34
• ISSN pri članku: 0929-1261
• DOI: 10.1007/s10657-025-09859-7
• COBISS.SI-ID: 258819075
• Datum objave v RUL: 26.02.2026

Gradivo je del revije

• Naslov: European journal of law and economics
• Založnik: Springer
• ISSN: 0929-1261
• COBISS.SI-ID: 35389185

Licence

• Licenca: CC BY 4.0, Creative Commons Priznanje avtorstva 4.0 Mednarodna
• Povezava: http://creativecommons.org/licenses/by/4.0/deed.sl
• Opis: To je standardna licenca Creative Commons, ki daje uporabnikom največ možnosti za nadaljnjo uporabo dela, pri čemer morajo navesti avtorja.

Sekundarni jezik

• Jezik: Slovenski jezik
• Ključne besede: demokracija, monarhija, politična ekonomija, ekonomska rast