The Political Economy of Populism

Sergei Guriev and Elias Papaioannou

No 14433, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We synthesize the literature on the recent rise of populism. First, we discuss definitions and present descriptive evidence on recent increase in support for populists. Second, we cover the historical evolution of populist regimes since the late 19th century. Third, we discuss the role of secular economic factors related to cross-border trade and automation. Fourth, we review studies on the role of the 2008-2009 global financial crisis and subsequent austerity, connect them to historical work covering the Great Depression, and discuss likely mechanisms. Fifth, we discuss studies on identity politics, trust, and cultural backlash. Sixth, we discuss economic and cultural consequences of growth in immigration and the recent refugee crisis. We also discuss the gap between perceptions and reality regarding immigration. Seventh, we review studies on the impact of the internet and social media. Eighth, we discuss works on the implications of populism's recent rise. Finally, we outline avenues for further research.

Date: 2020-02
New Economics Papers: this item is included in nep-int and nep-pol
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Citations: View citations in EconPapers (90)

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Related works:
Journal Article: The Political Economy of Populism (2022)
Working Paper: The Political Economy of Populism (2022)
Working Paper: The Political Economy of Populism (2022)
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