Democracy and Reforms: Evidence from a New Dataset

By Paola Giuliano, Prachi Mishra, A. Spilimbergo. Social Science Research Network, 2010

215 citations recorded by the source corpus.

Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and periods. This paper studies the effect of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product markets, agriculture, and trade for 150 countries over the period 1960-2004. Democracy has a positive and significant impact on the adoption of economic reforms but there is scarce evidence that economic reforms foster democracy. Our results are robust to the inclusion of a large variety of controls and estimation strategies.

Subfields: Economics and Econometrics, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/7db5b3927cbaf169e84d3fd1ff9bb76217210d81

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Citations in the corpus

The political economy of reforms in central bank design: evidence from a new dataset (2018, unknown): “Reforms could also occur during periods of growth since wealthier economies may find it easier to compensate potential losers from the reform (Giuliano et al., 2013).”
Democracy Does Cause Growth (2019, methodology): “Additional variables used include investment, trade (exports plus imports), enrollment in secondary and primary schools, and infant mortality from the World Bank Development Indicators; financial flows (net foreign assets over GDP) from Lane and Milesi-Ferretti (2007); total factor productivity (TFP”