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Globalization, Time-Preferences, and Populist Voting

Thomas Aronsson, Clemens Hetschko () and Ronnie Schöb
Authors registered in the RePEc Author Service: Ronnie Schoeb ()

No 8466, CESifo Working Paper Series from CESifo

Abstract: Societies see growing support for populist politicians who advocate an end to globalization. Our behavioral economics model links impatience to voters’ appraisals of an income shock due to globalization that is associated with short-run costs and delayed gains. The model shows that impatient individuals may reject further globalization if they are subject to borrowing constraints. Using German data, we confirm that impatient voters choose right-wing anti-globalist parties. Similarly, we show for the United Kingdom that a preference for immediate gratification increases the support for right-wing anti-globalist parties as well as for Brexit. A policy implication of our study is that governments may use up-front redistribution to gain voters’ support for further globalization.

Keywords: globalization; time-preference; impatience; time-inconsistency; populism; Brexit; up-front redistribution (search for similar items in EconPapers)
JEL-codes: D15 D72 D91 F15 F61 F68 H53 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-cdm, nep-int and nep-pol
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