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Title:Democracy and reforms PDF Logo
Authors:Giuliano, Paola
Mishra, Prachi
Spilimbergo, Antonio
Issue Date:2009
Series/Report no.:IZA discussion papers 4032
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.
Subjects:Political economy
transition
economic liberalization
JEL:O57
E6
Persistent Identifier of the first edition:urn:nbn:de:101:1-20090306256
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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