Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/18887
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dc.contributor.authorGiavazzi, Francescoen_US
dc.contributor.authorTabellini, Guidoen_US
dc.date.accessioned2009-01-28T15:53:35Z-
dc.date.available2009-01-28T15:53:35Z-
dc.date.issued2004en_US
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_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunichen_US
dc.relation.ispartofseries|aCESifo Working Paper |x1249en_US
dc.subject.jelO1en_US
dc.subject.jelO11en_US
dc.subject.ddc330en_US
dc.subject.keywordpolitical liberalizationen_US
dc.subject.keyworddemocracyen_US
dc.subject.keywordeconomic reformen_US
dc.subject.stwDeregulierungen_US
dc.subject.stwMakroökonomischer Einflußen_US
dc.subject.stwPolitische Reformen_US
dc.subject.stwDemokratisierungen_US
dc.subject.stwSchätzungen_US
dc.subject.stwWelten_US
dc.titleEconomic and political liberalizationsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn856738727en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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