I do believe that Democracy brings stability to a country
For one, take for example Singapore, which is a stable country. Despite us being a multi-racial society, we have not had much of any racial conflicts for the last few decades. There have been no nationwide racial riots. However, I doubt that democracy has much to do with this. It is because that the people have voted in, for now, the right party to run the country.
Also, stability is found in economic stability. If the economy is stable and is growing, the general populace will not be living in poverty, and will therefore not be angry or disillusioned with the government, and thus will probably not riot or revolt. Also, even if the population does not like their government, and wishes for others to govern them, they are able to peacefully bring the party out of office, via an election. I am assuming that the party follows the law and steps down peacefully. This way, the stability of a country will not be disrupted by any civil wars or riots.
Another way that democracy brings stability to a country is moderation. In a democracy, the citizens will be represented in one way or another. The majority will be dominant, but the minority is generally given rights also. Therefore, both parties' needs are met. The people's views are also taken into consideration, and that would make the citizens more contented. When the citizens are contented and do not have any major grievances, they are less likely to make trouble, once again contributing to the stability of a country.
However, one might say that an authoritarian state would be very stable as well. I do not think this is true. While there would definitely be no disagreements in the government, the citizens may not agree on their government's policy. And because the government does not need the citizens to keep them in power, they have no obligations to the citizens, and thus might not care so much for the welfare of the citizens and the country. They might often forgo the welfare of the citizens in exchange for economic growth or other perceived benefits. The citizens might not agree, and thus this would foment unrest in the country, leading to first political, then economic instability.
Thus, I believe that democracy is better for a country's stability, though economic growth might not be as fast, the trade-off - growth for stability, is worth it.
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