Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/309742 
Year of Publication: 
2021
Citation: 
[Journal:] International Journal of Management and Economics [ISSN:] 2543-5361 [Volume:] 57 [Issue:] 3 [Year:] 2021 [Pages:] 268-284
Publisher: 
Sciendo, Warsaw
Abstract: 
This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods of quantification. It also summarizes the results of the theoretical and empirical research on the economic implications of political instability. In contrast with the previous literature reviews, this article is not limited to the relationship between of political instability and one specific macroeconomic phenomenon but intends to summarize the findings of the research regarding its impact on a variety of economic phenomena investigated in the literature. The review covers the most influential publications in this area characterized by formulation of original research hypotheses, use of novel datasets, and development of innovative research methods. The research reviewed shows that political instability has a detrimental effect on economic growth, investment, inflation, fiscal deficits, public debt, and the functioning of financial markets.
Subjects: 
economic growth
political economy
political instability
political violence
JEL: 
D74
O40
O43
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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