Democracy and Reforms: Evidence from a New Dataset

Paola Giuliano, Prachi Mishra and Antonio Spilimbergo

American Economic Journal: Macroeconomics, 2013, vol. 5, issue 4, 179-204

Abstract: Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. 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: D72 E02 E60 L51 O17 O20 (search for similar items in EconPapers)
Date: 2013
Note: DOI: 10.1257/mac.5.4.179
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Citations: View citations in EconPapers (120)

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Related works:
Working Paper: Democracy and Reforms: Evidence from a New Dataset (2012)
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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