Economic Development and Performance of Countries Under A-C Theory
摘要
This chapter attempts to use the A-C theory to provide a new perspective for explaining the development types and performance of the global economy. First, it constructs a series of indicators of the A-C theory and classifies countries based on their political governance cohesion and economic accessibility, aiming to gain an overall understanding of each country’s position within the theoretical framework. Then, it uses historical data of various countries and adopts econometric methods to test the core conclusions of the A-C theory. Based on panel data from 209 economies between 1996 and 2018, the empirical results show that the improvement in economic accessibility contributes to promoting economic growth, that a higher degree of political governance cohesion is more conducive to sustainable economic growth, and that single-peak or multi-peak political governance models are neutral to a country’s economic growth.