THE INFLUENCE OF POLITICAL STABILITY ON ECONOMIC DEVELOPMENT IN EMERGING DEMOCRACIES

Abstract

Political stability plays a crucial role in shaping the economic development trajectory of emerging democracies. This review paper explores the intricate relationship between political stability and economic development, focusing on the unique challenges and opportunities faced by emerging democracies. Through a comprehensive analysis of existing literature, this paper examines the impact of political stability on key economic indicators such as GDP growth, investment, and poverty alleviation. Additionally, it investigates the role of institutions, governance structures, and political systems in maintaining political stability and fostering economic growth. The findings highlight the importance of political stability as a catalyst for sustainable economic development in emerging democracies, emphasizing the need for effective governance mechanisms and institutional frameworks to ensure long-term prosperity.