Towards an equilibrium level of market reform: how politics affects the dynamics of policy change

In this article we examine the dynamics of economic reforms that are implemented by incumbent policy-makers interested in maintaining their political power. We use a sample of 86 countries over a time period going from 1980 to 2001 and find that the achievement of an equilibrium level of market liberalization is highly costly. Our results are robust to endogenity and model specification.

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Year of publication:	2007
Authors:	Leonida, Leone ; Patti, Dario Maimone Ansaldo ; Navarra, Pietro
Published in:	Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 39.2007, 13, p. 1627-1634
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005475539