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Interest Groups, Democracy, and Policy Volatility

Author

Listed:
  • Bonnie Wilson

    (Department of Economics, Saint Louis University)

  • Jac Heckelman

    (Department of Economics, Wake Forest University)

Abstract

Democratic polities appear to produce more stable policy than do autocracies. In this paper, we explore a potential source of the policy stability observed in democracies: special-interest groups. We find that interest groups are associated with greater stability in some measures of policy and that groups mediate the stabilizing impact of democracy on policy. We also find that the impact of interest groups on policy volatility depends on the degree of polarization in a society.

Suggested Citation

  • Bonnie Wilson & Jac Heckelman, 2015. "Interest Groups, Democracy, and Policy Volatility," Working Papers 2015-02, Saint Louis University, Department of Economics.
    • Handle: RePEc:slu:wpaper:2015-02
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    Keywords

    lobbying; special-interest groups; policy volatility; democracy;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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