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Economic Development and Semi-Democracies: The Relationship between Economic Development and Political Regimes in Malaysia and Singapore, 1960-2004
Unformatted Document Text:  22 I ran the correlation of all variables in order to diagnose for multicollinearity and to see the contemporaneous relationship between variables. Table 3 and 4 show the correlation coefficients of all variables. For Malaysia, polity is positively and contemporaneously correlated with economic growth, but the correlation coefficient is [Table 3 and 4] not statistically significant at p<0.01. On the other hand, Malaysia’s polity is negatively and contemporaneously correlated with income per capita, and the coefficient is statistically significant at p<0.01. This implies that the higher the income, the less likely the political regime is to be democratic. For Singapore, GDP is negatively and contemporaneously correlated with political regime, but the coefficient is not significant. Singapore’s income per capita is negatively and contemporaneously correlated with political regime, and the correlation coefficient is statistically significant at p<0.01. It means that the richer the country, the less likely it is to become democratic. According to table 3 and 4, the correlation coefficients do not indicate the problem of multicollinearity. Results Table 9 and 10 show the Granger Causality of the VAR model assessed by F- Statistics. For Malaysia, only polity has a Granger impact on the Malaysia’s political regime. In model 1 (table 9), the F-Statistics of Polity (61.82) is jointly significant at p<0.000 level. GDP and income per capita are not statistically and jointly significant. This means that the characteristics of Malaysia’s political regimes in present days only depend on the values of its previous regimes. Economic growth and per capita does not

Authors: Laiprakobsup, Thanapan.
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22
I ran the correlation of all variables in order to diagnose for multicollinearity and
to see the contemporaneous relationship between variables. Table 3 and 4 show the
correlation coefficients of all variables. For Malaysia, polity is positively and
contemporaneously correlated with economic growth, but the correlation coefficient is
[Table 3 and 4]
not statistically significant at p<0.01. On the other hand, Malaysia’s polity is negatively
and contemporaneously correlated with income per capita, and the coefficient is
statistically significant at p<0.01. This implies that the higher the income, the less likely
the political regime is to be democratic. For Singapore, GDP is negatively and
contemporaneously correlated with political regime, but the coefficient is not significant.
Singapore’s income per capita is negatively and contemporaneously correlated with
political regime, and the correlation coefficient is statistically significant at p<0.01. It
means that the richer the country, the less likely it is to become democratic. According
to table 3 and 4, the correlation coefficients do not indicate the problem of
multicollinearity.
Results
Table 9 and 10 show the Granger Causality of the VAR model assessed by F-
Statistics. For Malaysia, only polity has a Granger impact on the Malaysia’s political
regime. In model 1 (table 9), the F-Statistics of Polity (61.82) is jointly significant at
p<0.000 level. GDP and income per capita are not statistically and jointly significant.
This means that the characteristics of Malaysia’s political regimes in present days only
depend on the values of its previous regimes. Economic growth and per capita does not


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