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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: 39
Date of creation: 01 Jul 2010
Date of revision:
Handle: RePEc:imf:imfwpa:10/173

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

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References

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  1. Jan Fidrmuc, 2001. "Economic Reform, Democracy and Growth During Post-Communist Transition," William Davidson Institute Working Papers Series 372, William Davidson Institute at the University of Michigan.
  2. Seiford, Lawrence M. & Thrall, Robert M., 1990. "Recent developments in DEA : The mathematical programming approach to frontier analysis," Journal of Econometrics, Elsevier, vol. 46(1-2), pages 7-38.
  3. Casey B. Mulligan & Xavier Sala-i-Martin & Ricard Gil, 2003. "Do Democracies Have Different Public Policies than Nondemocracies?," NBER Working Papers 10040, National Bureau of Economic Research, Inc.
  4. Acemoglu, Daron & Johnson, Simon & Robinson, James A & Yared, Pierre, 2005. "Income and Democracy," CEPR Discussion Papers 5273, C.E.P.R. Discussion Papers.
  5. Ashoka Mody & Abdul Abiad, 2003. "Financial Reform: What Shakes It? What Shapes It?," IMF Working Papers 03/70, International Monetary Fund.
  6. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422, December.
  7. Timothy Besley & Torsten Persson, 2007. "The Origins of State Capacity: Property Rights, Taxation, and Politics," NBER Working Papers 13028, National Bureau of Economic Research, Inc.
  8. Wacziarg, Romain & Welch, Karen Horn, 2003. "Trade Liberalization and Growth: New Evidence," Research Papers 1826, Stanford University, Graduate School of Business.
  9. Allan Drazen & William Easterly, 2001. "Do Crises Induce Reform? Simple Empirical Tests of Conventional Wisdom," Economics and Politics, Wiley Blackwell, vol. 13(2), pages 129-157, 07.
  10. 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.
  11. Xavier Sala-i-Martin, 2006. "The World Distribution of Income: Falling Poverty and ... Convergence, Period," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 351-397, May.
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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. Baskaran, Thushyanthan, 2013. "Taxation and democratization," Center for European, Governance and Economic Development Research Discussion Papers 164, University of Goettingen, Department of Economics.
  2. Kym Anderson & Gordon Rausser & Johan Swinnen, 2013. "Political Economy of Public Policies: Insights from Distortions to Agricultural and Food Markets," Journal of Economic Literature, American Economic Association, vol. 51(2), pages 423-77, June.
  3. 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.
  4. 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.
  5. Serhan Cevik & Mohammad Rahmati, 2013. "Breaking the Curse of Sisyphus: An Empirical Analysis of Post-Conflict Economic Transitions," IMF Working Papers 13/2, International Monetary Fund.
  6. Hugo J. Faria & Hugo M. Montesinos-Yufa & Daniel R. Morales, 2014. "Should the Modernization Hypothesis Survive Acemoglu, Johnson, Robinson, and Yared? Some More Evidence," Econ Journal Watch, Econ Journal Watch, vol. 11(1), pages 17-36, January.

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