Democracy and Reforms: Evidence from a New Dataset

Paola Giuliano, Prachi Mishra and Antonio Spilimbergo

No 18117, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: 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.

JEL-codes: E6 O57 (search for similar items in EconPapers)
Date: 2012-06
New Economics Papers: this item is included in nep-mac and nep-pol
Note: POL
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Citations: View citations in EconPapers (12)

Published as Paola Giuliano & Prachi Mishra & Antonio Spilimbergo, 2013. "Democracy and Reforms: Evidence from a New Dataset," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 179-204, October.

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Related works:
Journal Article: Democracy and Reforms: Evidence from a New Dataset (2013)
Working Paper: Democracy and Reforms: Evidence from a New Dataset (2011)
Working Paper: Democracy and Reforms: Evidence from a New Dataset (2010)
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