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چکیده
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The purpose of this paper is to investigate the effect of political capital on GDP per capita. Political capital is the ability of citizens to influence the political system. Increasing economic stability depends on political capital, which improves macroeconomic variables, leading to the efficiency and productivity of production factors, thus increasing GDP per capita. In this study, the political capital index is estimated based on the combination of three indicators of social capital, political participation, and democracy using fuzzy logic method. Then, we measured the impact of political capital on GDP per capita for 38 selected developing and developed countries during 2007–2017 using the dynamic generalized method of moments (GMM). The result shows that political capital has a positive significant effect on GDP per capita.
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