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

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  • Leone Leonida
  • Dario Maimone Ansaldo Patti
  • Pietro Navarra

Abstract

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.

Suggested Citation

  • Leone Leonida & Dario Maimone Ansaldo Patti & Pietro Navarra, 2007. "Towards an equilibrium level of market reform: how politics affects the dynamics of policy change," Applied Economics, Taylor & Francis Journals, vol. 39(13), pages 1627-1634.
    • Handle: RePEc:taf:applec:v:39:y:2007:i:13:p:1627-1634
    DOI: 10.1080/00036840600690231
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    References listed on IDEAS

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    1. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
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    Cited by:

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    2. Libman, Alexander, 2008. "Democracy and growth: is the effect non-linear?," MPRA Paper 17795, University Library of Munich, Germany.
    3. O'Reilly, Colin & Powell, Benjamin, 2015. "War and the growth of government," European Journal of Political Economy, Elsevier, vol. 40(PA), pages 31-41.
    4. Robert A. Lawson & Ryan Murphy & Benjamin Powell, 2020. "The Determinants Of Economic Freedom: A Survey," Contemporary Economic Policy, Western Economic Association International, vol. 38(4), pages 622-642, October.

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