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It's a matter of confidence: Institutions, government stability and economic outcomes

Listed author(s):
  • Bettareli, Luca
  • Cella, Michela
  • Iannantuoni, Giovanna
  • Manzoni, Elena
Registered author(s):

    In this paper, we analyse the effect of constitutional structures on policy outcomes. In particular, we exploit heterogeneity in parliamentary systems deriving from the presence and the use of the confidence vote to investigate whether stable and unstable parliamentary systems behave differently in terms of the policy they implement. This finer partition of parliamentary systems allows us to identify effects that are more robust than those in the literature. We show that the difference between presidential and parliamentary systems documented in previous works is driven by a difference between presidential and stable parliamentary systems. We suggest that possible transmission channels are legislative cohesion and (the absence of) selection.

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    File URL: https://mpra.ub.uni-muenchen.de/77546/1/MPRA_paper_77546.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 77546.

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    Date of creation: 08 Mar 2017
    Handle: RePEc:pra:mprapa:77546
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    1. Hayo, Bernd & Voigt, Stefan, 2013. "Endogenous constitutions: Politics and politicians matter, economic outcomes don’t," Journal of Economic Behavior & Organization, Elsevier, vol. 88(C), pages 47-61.
    2. Rockey, James, 2012. "Reconsidering the fiscal effects of constitutions," European Journal of Political Economy, Elsevier, vol. 28(3), pages 313-323.
    3. Daniel Diermeier & Razvan Vlaicu, 2011. "Executive Control and Legislative Success," Review of Economic Studies, Oxford University Press, vol. 78(3), pages 846-871.
    4. Voigt, Stefan, 2011. "Empirical constitutional economics: Onward and upward?," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 319-330.
    5. Michela Cella & Giovanna Iannantuoni & Elena Manzoni, 2015. "Do The Right Thing. A comparison of politicians' incentives across constitutional systems," Working Papers 290, University of Milano-Bicocca, Department of Economics, revised Jan 2015.
    6. repec:cup:apsrev:v:92:y:1998:i:03:p:593-609_21 is not listed on IDEAS
    7. repec:cup:apsrev:v:102:y:2008:i:02:p:169-180_08 is not listed on IDEAS
    8. Alesina, Alberto & Özler, Sule & Roubini, Nouriel & Swagel, Phillip, 1996. "Political Instability and Economic Growth," Journal of Economic Growth, Springer, vol. 1(2), pages 189-211, June.
    9. Lorenz Blume & Jens Müller & Stefan Voigt & Carsten Wolf, 2009. "The economic effects of constitutions: replicating—and extending—Persson and Tabellini," Public Choice, Springer, vol. 139(1), pages 197-225, April.
    10. Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
    11. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
    12. Torsten Persson, 2002. "Do Political Institutions Shape Economic Policy?," Econometrica, Econometric Society, vol. 70(3), pages 883-905, May.
    13. repec:cup:apsrev:v:92:y:1998:i:03:p:611-621_21 is not listed on IDEAS
    14. Daron Acemoglu, 2005. "Constitutions, Politics and Economics: A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"," NBER Working Papers 11235, National Bureau of Economic Research, Inc.
    15. David Roodman, 2011. "Fitting fully observed recursive mixed-process models with cmp," Stata Journal, StataCorp LP, vol. 11(2), pages 159-206, June.
    16. Martin Ardanaz & Carlos Scartascini, 2014. "The economic effects of constitutions: do budget institutions make forms of government more alike?," Constitutional Political Economy, Springer, vol. 25(3), pages 301-329, September.
    17. Garcia Perez, Jose Ignacio & Rebollo Sanz, Yolanda, 2005. "Wage changes through job mobility in Europe: A multinomial endogenous switching approach," Labour Economics, Elsevier, vol. 12(4), pages 531-555, August.
    18. Diermeier, Daniel & Feddersen, Timothy J., 1998. "Comparing constitutions:: Cohesion and distribution in legislatures," European Economic Review, Elsevier, vol. 42(3-5), pages 665-672, May.
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