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Economic liberalization, political regimes and ideology

journal contribution
posted on 15.07.2021, 09:22 by Vitor CastroVitor Castro, Rodrigo Martins
This paper assesses how economic freedom is affected by the ideological stance, being the first to analyse the role of dictatorial regimes and their ideological orientations. Using annual data for 145 countries over the period 2000-2017 and a two-step system GMM estimator, this study finds that democracies do promote more economic freedom than authoritarian regimes, but not in all circumstances The probability that economic liberalization is promoted is higher for right-wing dictatorships than for other autocracies and comparable to other types of democratic ruling, with the exception of right-wing democratic governments that strongly benefit liberalization. These rightwing governments, alongside with (the negative effect of) non right-wing dictatorships, seem to be the main contributors to explain why democracies in recent years are promoting more economic liberalization than autocracies. Additionally, our results suggest that democratic governments not ideologically identifiable seem to share a common dislike for policies that promote liberalization

Funding

National Funds of the Portuguese Foundation for Science and Technology (FCT) within the project UIDB/05037/2020

History

School

  • Business and Economics

Department

  • Economics

Published in

Kyklos

Volume

74

Issue

4

Pages

463-487

Publisher

Wiley

Version

AM (Accepted Manuscript)

Rights holder

© Wiley

Publisher statement

This is the peer reviewed version of the following article: Castro, V. and Martins, R. Economic liberalization, political regimes and ideology. Kyklos, 74 (4), pp.463-487, which has been published in final form at https://doi.org/10.1111/kykl.12281. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions

Acceptance date

05/07/2021

Publication date

2021-09-07

Copyright date

2021

ISSN

0023-5962

eISSN

1467-6435

Language

en

Depositor

Dr Vitor Castro . Deposit date: 13 July 2021