Democracy and Reforms: Evidence from a New Dataset
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product 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.
Series:
Working Paper No. 2010/173
Subject:
Banking Commodity markets Current account Expenditure Securities markets
English
Publication Date:
July 1, 2010
ISBN/ISSN:
9781455201846/1018-5941
Stock No:
WPIEA2010173
Pages:
39
Please address any questions about this title to publications@imf.org