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dc.contributor.authorGiavazzi, Francescoen
dc.contributor.authorTabellini, Guidoen
dc.date.accessioned2009-01-28T15:53:35Z-
dc.date.available2009-01-28T15:53:35Z-
dc.date.issued2004-
dc.identifier.urihttp://hdl.handle.net/10419/18887-
dc.description.abstractThis paper studies empirically the effects of and the interactions amongst economic andpolitical liberalizations. Economic liberalizations are measured by a widely used indicator thatcaptures the scope of the market in the economy, and in particular of policies towards freerinternational trade (cf. Sachs and Werner 1995, Wacziarg and Welch 2003). Politicalliberalizations correspond to the event of becoming a democracy. Using a difference-indifferenceestimation, we ask what are the effects of liberalizations on economic performance,on macroeconomic policy and on structural policies. The main results concern the quantitativerelevance of the feedback and interaction effects between the two kinds of reforms. First, wefind positive feedback effects between economic and political reforms. The timing of eventsindicates that causality is more likely to run from political to economic liberalizations, ratherthan viceversa, but we cannot rule out feedback effects in both directions. Second, thesequence of reforms matters. Countries that first liberalize and then become democracies domuch better than countries that pursue the opposite sequence, in almost all dimensions.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1249en
dc.subject.jelO1en
dc.subject.jelO11en
dc.subject.ddc330en
dc.subject.keywordpolitical liberalizationen
dc.subject.keyworddemocracyen
dc.subject.keywordeconomic reformen
dc.subject.stwDeregulierungen
dc.subject.stwMakroökonomischer Einflußen
dc.subject.stwPolitische Reformen
dc.subject.stwDemokratisierungen
dc.subject.stwSchätzungen
dc.subject.stwWelten
dc.titleEconomic and political liberalizations-
dc.typeWorking Paperen
dc.identifier.ppn856738727en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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