No Pain, No Gain: Market Reform, Unemployment, and Politics in Bulgaria

Neven Valev

William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: In 1997, a new center-right government came to power in Bulgaria with a mandate to accelerate market reforms. By the time of the next elections in 2001, 75 percent of GDP was produced in the private sector, compared to 45 percent in 1996. The government however lost the elections. This paper uses unique survey data to examine whether the high unemployment associated with market reform contributed to the election outcome. High unemployment did have an effect but it was small and does not explain the election loss. In fact, many in the population, including the unemployed, believed that high unemployment was the necessary price for future prosperity.

Keywords: Market reform; Transition; Voting; Eastern Europe (search for similar items in EconPapers)
JEL-codes: D72 E24 E61 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2003-05-15
New Economics Papers: this item is included in nep-eec, nep-pol and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: No pain, no gain: market reform, unemployment, and politics in Bulgaria (2004)
Working Paper: No Pain, No Gain: Market Reform, Unemployment, and Politics in Bulgaria (2003)
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