Abstract

http://ssrn.com/abstract=1351195
 
 

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Democracy and Reforms


Paola Giuliano


University of California, Los Angeles (UCLA) - Anderson School of Management; Institute for the Study of Labor (IZA)

Prachi Mishra


International Monetary Fund (IMF) - Research Department

Antonio Spilimbergo


International Monetary Fund (IMF) - Research Department; Centre for Economic Policy Research (CEPR); University of Michigan at Ann Arbor - The William Davidson Institute


IZA Discussion Paper No. 4032

Abstract:     
Empirical evidence on the relationship between democracy and economic reforms is scarce, limited to few reforms and countries and for few years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital, public, and banking sectors, product and labor markets, agriculture, and trade for 150 countries over the period 1960-2004. Democracy has a positive and significant impact on the adoption of economic reforms but there is no evidence that economic reforms foster democracy. Our results are robust to the inclusion of a large variety of controls and estimation strategies.

Number of Pages in PDF File: 43

Keywords: economic liberalization, transition, political economy

JEL Classification: O57, E6

working papers series


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Date posted: March 2, 2009  

Suggested Citation

Giuliano, Paola and Mishra, Prachi and Spilimbergo, Antonio, Democracy and Reforms. IZA Discussion Paper No. 4032. Available at SSRN: http://ssrn.com/abstract=1351195

Contact Information

Paola Giuliano (Contact Author)
University of California, Los Angeles (UCLA) - Anderson School of Management ( email )
110 Westwood Plaza
Los Angeles, CA 90095-1481
United States
Institute for the Study of Labor (IZA)
P.O. Box 7240
Bonn, D-53072
Germany
Prachi Mishra
International Monetary Fund (IMF) - Research Department ( email )
700 19th Street NW
Washington, DC 20431
United States
Antonio Spilimbergo
International Monetary Fund (IMF) - Research Department ( email )
700 19th Street NW
Washington, DC 20431
United States
202-623-6346 (Phone)
202-623-6336 (Fax)
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
University of Michigan at Ann Arbor - The William Davidson Institute ( email )
724 E. University Ave.
Wyly Hall
Ann Arbor, MI 48109-1234
United States
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