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Democracy and Reforms

Prachi Mishra, Antonio Spilimbergo () and Paola Giuliano ()
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Prachi Mishra: IMF

No 216, 2010 Meeting Papers from Society for Economic Dynamics

Abstract: Empirical evidence on the relationship between democracy and economic reforms is scarce, limited to few reforms and countries and for few years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital, public, and banking sectors, product and labor 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 no evidence that economic reforms foster democracy. Our results are robust to the inclusion of a large variety of controls and estimation strategies.

Date: 2010
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Working Paper: Democracy and Reforms (2009) Downloads
Working Paper: Democracy and Reforms (2009) Downloads
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