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Democracy and Reforms: Evidence from a New Dataset

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  • Antonio Spilimbergo
  • Paola Giuliano
  • Prachi Mishra

Abstract

Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product 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 International Monetary Fund in its series IMF Working Papers with number 10/173.

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Length: 48
Date of creation: 01 Jul 2010
Date of revision:
Handle: RePEc:imf:imfwpa:10/173

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Related research

Keywords: Agricultural policy; Capital account liberalization; Trade policy; Financial sector; Economic reforms;

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References

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  1. Martin C. McGuire & Mancur Olson Jr., 1996. "The Economics of Autocracy and Majority Rule: The Invisible Hand and the Use of Force," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 72-96, March.
  2. Michael A. Clemens & Jeffrey G. Williamson, 2002. "Why Did the Tariff-Growth Correlation Reverse After 1950?," NBER Working Papers 9181, National Bureau of Economic Research, Inc.
  3. Francisco J. Buera & Alexander Monge‐Naranjo & Giorgio E. Primiceri, 2011. "Learning the Wealth of Nations," Econometrica, Econometric Society, vol. 79(1), pages 1-45, 01.
  4. Daron Acemoglu & Simon Johnson & James Robinson & Pierre Yared, 2005. "Income and Democracy," NBER Working Papers 11205, National Bureau of Economic Research, Inc.
  5. Alessandro Olper & Jan Falkowski & Johan Swinnen, 2009. "Political Reforms and Public Policies: Evidence from Agricultural Protection," LICOS Discussion Papers 25109, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  6. Andrea Bassanini & Romain Duval, 2006. "Employment Patterns in OECD Countries: Reassessing the Role of Policies and Institutions," OECD Social, Employment and Migration Working Papers 35, OECD Publishing.
  7. Abdul Abiad & Enrica Detragiache & Thierry Tressel, 2010. "A New Database of Financial Reforms," IMF Staff Papers, Palgrave Macmillan, vol. 57(2), pages 281-302, June.
  8. Dethier, Jean-Jacques & Ghanem, Hafez & Zoli, Edda, 1999. "Does democracy facilitate the economic transition : an empirical study of Central and Eastern Europe and the Former Soviet Union," Policy Research Working Paper Series 2194, The World Bank.
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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
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Cited by:
  1. Anderson, Kym & Rausser, Gordon & Swinnen, Jo, 2012. "Political economy of public policies: insights from distortions to agricultural and food markets," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/377578, Katholieke Universiteit Leuven.
  2. Olper, Alessandro & Raimondi, Valentina, 2012. "Electoral Rules, Forms of Government and Redistributive Policy: Evidence from Agriculture," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/343970, Katholieke Universiteit Leuven.

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