Do crises promote the extent of economic liberalization?: an empirical test

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• 作者：Pitlik ; Hans ; Wirth ; Steffen
• 关键词：Economic freedom ; Reform ; Crisis hypothesis ; O1 ; D74
• 刊名：European Journal of Political Economy
• 出版年：2003
• 出版时间：September, 2003
• 年：2003
• 卷：19
• 期：3
• 页码：565-581
• 全文大小：146 K

文摘

The paper explores empirically the impact of preceding growth and inflation crises on the extent of economic liberalization as measured by the Fraser Institute's Economic Freedom of the World-index. We find that deep crises are conducive to market-oriented policy reforms. The paper also finds evidence for a positive impact of democratic regimes and checks and balances on the extent of economic reforms. The popular thesis that fractionalized governments have a lower propensity to reform is clearly rejected.