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https://hdl.handle.net/10419/18887
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DC Field | Value | Language |
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dc.contributor.author | Giavazzi, Francesco | en |
dc.contributor.author | Tabellini, Guido | en |
dc.date.accessioned | 2009-01-28T15:53:35Z | - |
dc.date.available | 2009-01-28T15:53:35Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18887 | - |
dc.description.abstract | This 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.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1249 | en |
dc.subject.jel | O1 | en |
dc.subject.jel | O11 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | political liberalization | en |
dc.subject.keyword | democracy | en |
dc.subject.keyword | economic reform | en |
dc.subject.stw | Deregulierung | en |
dc.subject.stw | Makroökonomischer Einfluß | en |
dc.subject.stw | Politische Reform | en |
dc.subject.stw | Demokratisierung | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Welt | en |
dc.title | Economic and political liberalizations | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 856738727 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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