Democracy and Globalization

Barry Eichengreen ()

No 12450, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The connections between globalization and democracy are a classic question in international political economy and a topic much debated in foreign policy circles. While the analytical literature is extensive, few previous studies have acknowledged the possibility of bidirectional causality or developed an instrumental variables strategy suitable for addressing it. We do so in this paper and apply our approach to an extensive historical data set. The results suggest the existence of positive relationships running both ways between globalization and democracy, though exceptions obtain at particular times (during the Bretton Woods era) and places (in labor scarce economies).

JEL-codes: F0 F00 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-pol
Date: 2006-08
Note: DAE IFM
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Related works:
Working Paper: Democracy and globalisation (2006)
Journal Article: DEMOCRACY AND GLOBALIZATION (2008)
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