Abstract

https://ssrn.com/abstract=1356423
 
 

References (43)



 
 

Citations (6)



 


 



Democracy and Reforms


Paola Giuliano


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

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

March 2009

CEPR Discussion Paper No. DP7194

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: 44

Keywords: economic liberalization, financial markets, institutions, political economy, product markets, transition

JEL Classification: E6, O57


Date posted: March 11, 2009  

Suggested Citation

Giuliano, Paola and Mishra, Prachi and Spilimbergo, Antonio, Democracy and Reforms (March 2009). CEPR Discussion Paper No. DP7194. Available at SSRN: https://ssrn.com/abstract=1356423

Contact Information

Paola Giuliano
University of California, Los Angeles (UCLA) - Anderson School of Management ( email )
110 Westwood Plaza
Los Angeles, CA 90095-1481
United States
IZA Institute of Labor Economics
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 (Contact Author)
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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