![]() Competition can be applied in everything – political systems, education, business, innovation, even arts. The principles of competition do not only apply to business. Political stability can take the form of complacency and stagnation that does not allow competition. Many seek change in all sectors of life-politics, business, culture-in order to have a brighter future through better opportunities. Innovation and ingenuity take a backseat. Some see political stability as a condition that not only precludes any form of change, but also demoralizes the public. In today’s world, however, there are many countries that combine one of these two robust determinants of corruption with the opposite of the other: politically stable autocracies or newly formed and unstable democracies. Among the factors found to reduce corruption are decades-long tradition of democracy and political stability. The recent empirical literature on corruption has identified a long list of variables that correlate significantly with corruption. Irrespective of political regimes, if a country does not need to worry about conflicts and radical changes of regimes, the people can concentrate on working, saving, and investing. Democratic regimes, like all political regimes, are fragile. ![]() Political stability is by no means the norm in human history. Such is the dilemma that many countries with a fragile political order have to face. While the peaceful environment that political stability may offer is a desideratum, it could easily become a breeding ground for cronyism with impunity. In these cases, political stability is a double edged sword. However, political stability can be achieved through oppression or through having a political party in place that does not have to compete to be re-elected. On the other hand, poor economic performance may lead to government collapse and political unrest. ![]() On the one hand, the uncertainty associated with an unstable political environment may reduce investment and the pace of economic development. Political instability tends to be persistent.Įconomic growth and political stability are deeply interconnected. Also, the occurrence of a government change increases the likelihood of subsequent changes. The standard definition of political instability is the propensity of a government collapse either because of conflicts or rampant competition between various political parties.
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