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Democracy and Globalization

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  • Barry Eichengreen

Abstract

The connections between globalization and democracy are a classic question in international political economy and a topic much debated in foreign policy circles. While the analytical literature is extensive, few previous studies have acknowledged the possibility of bidirectional causality or developed an instrumental variables strategy suitable for addressing it. We do so in this paper and apply our approach to an extensive historical data set. The results suggest the existence of positive relationships running both ways between globalization and democracy, though exceptions obtain at particular times (during the Bretton Woods era) and places (in labor scarce economies).

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 12450.

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Date of creation: Aug 2006
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Handle: RePEc:nbr:nberwo:12450

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Citations

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Cited by:
  1. Cho, Seo-young & Vadlamannati, Krishna Chaitanya, 2010. "Compliance for big brothers: An empirical analysis on the impact of the anti-trafficking protocol," Center for European, Governance and Economic Development Research Discussion Papers 118, University of Goettingen, Department of Economics.
  2. Dreher, Axel & Gassebner, Martin & Siemers, Lars-H. R., 2010. "Globalization, economic freedom and human rights," Center for European, Governance and Economic Development Research Discussion Papers 115, University of Goettingen, Department of Economics.
  3. Markus Alzer & Ramin Dadasov, 2012. "Financial Liberalization and Institutional Development," MAGKS Papers on Economics 201219, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  4. Hassan Gholipour Fereidouni & Tajul Ariffin Masron & Reza Ekhtiari Amiri, 2011. "The effects of FDI on voice and accountability in the MENA region," International Journal of Social Economics, Emerald Group Publishing, vol. 38(9), pages 802-815, August.
  5. Cho, Seo-Young & Dreher, Axel & Neumayer, Eric, 2010. "The spread of anti-trafficking policies: Evidence from a new index," Center for European, Governance and Economic Development Research Discussion Papers 119, University of Goettingen, Department of Economics.
  6. 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.
  7. Markus Alzer & Ramin Dadasov, 2012. "Financial Liberalization and Institutional Development," FIW Working Paper series 082, FIW.
  8. Cho, Seo-Young & Dreher, Axel & Neumayer, Eric, 2011. "The Spread of Anti-Trafficking Policies - Evidence from a New Index," Proceedings of the German Development Economics Conference, Berlin 2011 20, Verein für Socialpolitik, Research Committee Development Economics.
  9. Sanjeev Gupta & Amine Mati & Emanuele Baldacci, 2008. "Is it (Still) Mostly Fiscal? Determinants of Sovereign Spreads in Emerging Markets," IMF Working Papers 08/259, International Monetary Fund.
  10. Dreher, Axel & Gassebner, Martin & Siemers, Lars-H. R., 2010. "Globalization, economic freedom and human rights," Center for European, Governance and Economic Development Research Discussion Papers 115, University of Goettingen, Department of Economics.
  11. Jorge Braga de Macedo, 2012. "Cape Verde’s foreign policy: an economic perspective," FEUNL Working Paper Series wp572, Universidade Nova de Lisboa, Faculdade de Economia.
  12. Macedo, Jorge Braga de, 2010. "Global crisis and national policy responses: together alone?," FEUNL Working Paper Series wp546, Universidade Nova de Lisboa, Faculdade de Economia.
  13. Rui Esteves, 2011. "The Political Economy of Global Financial Liberalisation in Historical Perspective," Economics Series Working Papers Number 89, University of Oxford, Department of Economics.
  14. Cho, Seo-young & Vadlamannati, Krishna Chaitanya, 2010. "Compliance for big brothers: An empirical analysis on the impact of the anti-trafficking protocol," Center for European, Governance and Economic Development Research Discussion Papers 118, University of Goettingen, Department of Economics.
  15. Hossein Mirshojaeian Hosseini & Shinji Kaneko, 2012. "Spatial Spillover of Governance and Institutional Quality: A Spatial Econometric Approach," IDEC DP2 Series 2-3, Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
  16. Yu, Miaojie, 2010. "Trade, democracy, and the gravity equation," Journal of Development Economics, Elsevier, vol. 91(2), pages 289-300, March.

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