{
  "title": "Democracy and Reforms: Evidence from a New Dataset",
  "publication": "IMF Working Papers, July 1, 2010",
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  "summary": "Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years.\n- 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.\n- Sample covers 150 countries over the period 1960 - 2004.\n- Main result: Democracy has a positive and significant impact on the adoption of economic reforms.\n- No evidence that economic reforms foster democracy.\n- Results are robust to the inclusion of a large variety of controls and estimation strategies."
    },
    {
      "heading": "Data and scope",
      "content": "- Sectors covered: financial, capital and banking sectors, product markets, agriculture, and trade.\n- Coverage: 150 countries.\n- Time period: 1960 - 2004.\n- Publication details: Pages: 39; Volume: 2010; Issue: 173; Series: Working Paper No. 2010/173; DOI: https://doi.org/10.5089/9781455201846.001; Stock No: WPIEA2010173; ISBN: 9781455201846; ISSN: 1018-5941."
    },
    {
      "heading": "Key findings",
      "content": "- Democracy → adoption of economic reforms: positive and significant relationship.\n- Economic reforms → democracy: no evidence of a fostering effect.\n- Robustness: findings hold after adding a large variety of controls and applying multiple estimation strategies."
    },
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      "heading": "Subject classification and keywords",
      "content": "- Subject: Banking, Commodity markets, Current account, Expenditure, Securities markets\n- Keywords: country, democracy, Lagged democracy, WP\n\nThis content unit summarizes \"Democracy and Reforms: Evidence from a New Dataset\" (IMF Working Papers) by Antonio Spilimbergo, Paola Giuliano, Prachi Mishra, July 1, 2010.\n\n---\n\n Content in this bundle\n\n- wp10173\n  - wp10173 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp10173 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/democracy-and-reforms-evidence-from-a-new-dataset-24076"
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    "Authors: Antonio Spilimbergo, Paola Giuliano, Prachi Mishra",
    "Published: July 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455201846.001",
    "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.",
    "Sample covers 150 countries over the period 1960 - 2004.",
    "Main result: Democracy has a positive and significant impact on the adoption of economic reforms.",
    "No evidence that economic reforms foster democracy.",
    "Results are robust to the inclusion of a large variety of controls and estimation strategies.",
    "Sectors covered: financial, capital and banking sectors, product markets, agriculture, and trade.",
    "Coverage: 150 countries.",
    "Time period: 1960 - 2004.",
    "Publication details: Pages: 39; Volume: 2010; Issue: 173; Series: Working Paper No. 2010/173; DOI: https://doi.org/10.5089/9781455201846.001; Stock No: WPIEA2010173; ISBN: 9781455201846; ISSN: 1018-5941.",
    "Democracy → adoption of economic reforms: positive and significant relationship.",
    "Economic reforms → democracy: no evidence of a fostering effect.",
    "Robustness: findings hold after adding a large variety of controls and applying multiple estimation strategies.",
    "Subject: Banking, Commodity markets, Current account, Expenditure, Securities markets",
    "Keywords: country, democracy, Lagged democracy, WP",
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