East Asian Journal of Business Economics (EAJBE) (동아시아경상학회지)

East Asia Business Economics Association (동아시아경상학회)
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The Role of Economic Democratization in Economic Development

  • PanJin KIM (Department of Business Management, Chodang University)
  • Received : 2024.05.10
  • Accepted : 2024.06.22
  • Published : 2024.06.30
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Abstract

Purpose: The primary objective of this study was to examine the influence of economic democratization on economic development from diverse perspectives. Research design, Data methodology: Justification of the qualitative literature methods used in this study is essential, as extensive descriptions, justifications, and explanations of the methods used allow researchers to increase the reliability of their studies for specific or specified audiences. Initially, the concept and principal attributes of economic democratization were scrutinized, followed by an exploration of its manifold effects on economic development. Results: Consequently, this study facilitated a comprehensive comprehension of how economic democratization fosters economic growth and advancement in contemporary society. Additionally, the study deliberated on the constraints and hurdles of economic democratization, proposing policy recommendations for future mitigation. Conclusion: In conclusion, this study is anticipated to furnish foundational data for regional economic development to both academia and policymakers. It achieves this by thoroughly evaluating the impact of economic democratization on economic development and delving into the dynamic interaction between democracy and economic progress.

Keywords

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