Is democracy enhances economic growth and …

Economic growth and development is less in Democracies because:

a. Democratic form of governments are characterized by political instability, if the government loses majority it may fall and may not be able to complete its full term. A dictatorial regime is stable.

b. Likewise, government changes after certain period of time, there is no continuy in economic policies governing the country. A dictatorial regime may follow one policy for a longer period of time.

c. Democracy involves thorough deliberation and discussion, which results in delays in decision making process. There is only one person who takes decision for the entire country. It results in quick decision making.

d. There are large number of people involved in the decision making process as a result it becomes difficult to accommodate diverse interests and viewpoints. 

e. Democracies involve corruption, favoritism , nepotism, red tapism at all levels which hampers country's growth. In a dictatorial regime these aspects are checked by a dictator.

f. Modern democracies are capitalist democracies where few accumulate wealth, and rest are deprived of fair share. It is the capitalist class which influences decision making. In a dictatorship, it is the dictator who decides policy for the entire country which involves more state controlled policies than capitalist controlled.