What Determines Long-Run Macroeconomic Stability? Democratic Institutions

What Determines Long-Run Macroeconomic Stability? Democratic Institutions
We examine the deep determinants of long-run macroeconomic stability in a cross-country framework. We find that conflict, openness, and democratic political institutions have a strong and statistically significant causal impact on macroeconomic stability. Surprisingly the most robust relationship of the three is for democratic institutions. A... READ MORE...

Publication date: November 2004
ISBN 9781451875072
$15.00

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