The Political Economy of Populism

115 Pages Posted: 3 Mar 2020

See all articles by Sergei Guriev

Sergei Guriev

Sciences Po; Centre for Economic Policy Research (CEPR)

Elias Papaioannou

London Business School

Multiple version iconThere are 2 versions of this paper

Date Written: February 2020

Abstract

We synthesize the literature on the recent rise of populism. First, we go over definitional aspects and present descriptive evidence on the increased support for populists in the past decades. Second, we discuss the role of secular economic factors related to the growth in cross-border trade and automation. Third, we review studies analyzing the role of the recent crisis, connect them to historical work looking at the Great Depression, and discuss likely mechanisms. Fourth, we discuss studies investigating non-economic determinants of populism, identity politics and cultural backlash. Fifth, we go over studies on the role of online media. Sixth, we go over works on the role of immigration and the refugee crisis that entail both economic and cultural consequences. Seventh, we discuss preliminary evidence on the implications of the recent rise of populism. We conclude outlining the scope for further theoretical and empirical research.

Suggested Citation

Guriev, Sergei and Papaioannou, Elias, The Political Economy of Populism (February 2020). CEPR Discussion Paper No. DP14433, Available at SSRN: https://ssrn.com/abstract=3547366

Sergei Guriev (Contact Author)

Sciences Po ( email )

27 rue Saint-Guillaume
Paris Cedex 07, 75337
France

HOME PAGE: http://econ.sciences-po.fr/staff/sergei-guriev

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Elias Papaioannou

London Business School ( email )

Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom

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