INEQUALITY AND SEQUENCE OF ECONOMIC LIBERALIZATION AND DEMOCRATIZATION

Nobuhiro Mizuno

Journal of Economic Development, 2010, vol. 35, issue 1, 1-13

Abstract: Some recent empirical studies found positive effects of economic liberalization on democratization. Based on these findings, this paper explains why the sequence of economic liberalization and democratization is related to the effects of the two reforms on economic performance. Since economic liberalization increases the probability of democratization and democratization leads to income redistribution, in an economy with large inequality between the elite and the poor, the elite do not implement economic liberalization, and democratization occurs first. In such an economy, the effects of economic liberalization and democratization are lower because of distortions caused by large-scale income redistribution.

Keywords: Economic Liberalization; Democratization; Income Distribution; Dictatorship (search for similar items in EconPapers)
JEL-codes: D72 O15 O24 (search for similar items in EconPapers)
Date: 2010
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Related works:
Working Paper: Inequality and Sequence of Economic Liberalization and Democratization (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:35:y:2010:i:1:p:1-13

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