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Democracy and Reforms

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  • Giuliano, Paola
  • Mishra, Prachi
  • Spilimbergo, Antonio

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.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7194.

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Date of creation: Mar 2009
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Handle: RePEc:cpr:ceprdp:7194

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

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References

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Demokrati och ekonomiska reformer
    by Niclas Berggren in Nonicoclolasos on 2010-10-13 03:26:15
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:
  1. Kym Anderson & Gordon Rausser & Johan Swinnen, 2012. "Political Economy of Public Policies: Insights from Distortions to Agricultural and Food Markets," Departmental Working Papers 2012-18, The Australian National University, Arndt-Corden Department of Economics.
  2. Alessandro Olper & Valentina Raimondi, 2012. "Electoral Rules, Forms of Government and Redistributive Policy: Evidence from Agriculture and Food Policies," LICOS Discussion Papers 30512, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  3. Abdul Abiad & Petya Koeva Brooks & Irina Tytell & Daniel Leigh & Ravi Balakrishnan, 2009. "What’S the Damage? Medium-Term Output Dynamics After Banking Crises," IMF Working Papers 09/245, International Monetary Fund.
  4. Jan Fałkowski & Alessandro Olper, 2012. "Political Competition and Policy Choices: The Evidence From Agricultural Protection," Working Papers 2012-18, Faculty of Economic Sciences, University of Warsaw.
  5. Hauner, David & Prati, Alessandro & Bircan, Cagatay, 2013. "The interest group theory of financial development: Evidence from regulation," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 895-906.

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