Political Partisanship and Financial Reforms in Advanced Countries

Thibault Darcillon

Documents de travail du Centre d'Economie de la Sorbonne from Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne

Abstract: Applying regressions on a sample of 18 OECD countries from 1970 to 2009 using new indicators, we find that right-wing governments liberalize more the financial sector that left-wing governments. We show that if a left-wing government accepts to liberalize the financial sector, an increase of social security expenditures can facilitate the adoption of a new legislation in the financial sector. To estimate the impact of the government partisan affiliation on the corporate governance legislation, we use a probit model and a conditional Cox model in gap time in 16 OECD over the 1970-2009 period. Statistically, we find that right-wing governments enhance more pro-shareholder policies

Keywords: Political Partisanship; financial liberalization; corporate governance; institutional change (search for similar items in EconPapers)
JEL-codes: C33 G38 P16 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2011-10
New Economics Papers: this item is included in nep-pol
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ftp://mse.univ-paris1.fr/pub/mse/CES2011/11063.pdf (application/pdf)

Related works:
Working Paper: Political Partisanship and Financial Reforms in Advanced Countries (2011)
Working Paper: Political Partisanship and Financial Reforms in Advanced Countries (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:mse:cesdoc:11063

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