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Democracy and Reforms

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  • Prachi Mishra

    (IMF)

  • Antonio Spilimbergo

    (IMF)

  • Paola Giuliano

    (UCLA)

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 Society for Economic Dynamics in its series 2010 Meeting Papers with number 216.

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Date of creation: 2010
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Handle: RePEc:red:sed010:216

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Cited by:
  1. 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.
  2. 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.

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