Considering these economic successes under authoritarian regimes and failure of number democratic regimes in the perspective of development, a group people argue that democracy hinder the process of development. Huntington (1968) elaborates how democracies have fragile political institutions and lend themselves to popular demands at the cost of beneficial investments. They believe that denial of democratic rights i.e. political liberty and civil rights sometimes encourage economic growth, which is widely known as ‘Lee’s thesis’. Lee Kuan Yew, former Prime Minister of Singapore, argues that democratic freedom is not fit for economic development for all countries. Democratic regimes are weak to pressure for redistribution to lower-income groups, and are encircled by rent-seekers for “directly unproductive profit-seeking activities” (Bardhan 1993, World Bank, 2005). In this case Non-democratic government can apply force to implement strict policies that are helpful for development, as well as eradicate socio-political disorder due to various reasons. But democracies cannot resist such problems. For effective development, markets should come first and dictatorial government can easily take such initiatives (Doucouliagos & Ulubaşoğlu,
Considering these economic successes under authoritarian regimes and failure of number democratic regimes in the perspective of development, a group people argue that democracy hinder the process of development. Huntington (1968) elaborates how democracies have fragile political institutions and lend themselves to popular demands at the cost of beneficial investments. They believe that denial of democratic rights i.e. political liberty and civil rights sometimes encourage economic growth, which is widely known as ‘Lee’s thesis’. Lee Kuan Yew, former Prime Minister of Singapore, argues that democratic freedom is not fit for economic development for all countries. Democratic regimes are weak to pressure for redistribution to lower-income groups, and are encircled by rent-seekers for “directly unproductive profit-seeking activities” (Bardhan 1993, World Bank, 2005). In this case Non-democratic government can apply force to implement strict policies that are helpful for development, as well as eradicate socio-political disorder due to various reasons. But democracies cannot resist such problems. For effective development, markets should come first and dictatorial government can easily take such initiatives (Doucouliagos & Ulubaşoğlu,