Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/42220
Authors: 
Osterloh, Steffen
Year of Publication: 
2010
Series/Report no.: 
ZEW Discussion Papers 10-092
Abstract: 
In this paper, a new approach to disclose the impact of politics on economic growth is presented: we use data derived from content analysis of party manifestos as measures of party preferences. In a panel of 23 OECD countries, we detect a positive impact of party support for various market-liberal policies on economic performance. In particular, we show that parties which were more concerned with market interventions and - to a lesser extent - welfare state policies impacted on growth negatively; those which proposed incentives for business as well as technology and infrastructure had a positive impact. Moreover, the robustness of the results is demonstrated in a model averaging framework.
Subjects: 
economic growth
political economy
ideology
panel data
model averaging
JEL: 
O40
H11
P16
Document Type: 
Working Paper

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