The golden hello and political transitions
Accepted version
Peer-reviewed
Repository URI
Repository DOI
Change log
Authors
Aidt, TS
Albornoz, F
Gassebner, M
Abstract
© 2017. We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version of Acemoglu and Robinson's [American Economic Review 91, 2001] model of political transitions to show how the anticipation of new loans from international financial institutions can trigger political transitions which would not otherwise have taken place. We test this unexplored implication of the theory empirically. We find that the anticipation of receiving new loan programs immediately af ter a political regime transition increases the probability of a transition from autocracy to democracy and reduces the probability of democratic survival.
Description
Keywords
Political transitions, Democracy, Autocracy, IMF, World bank
Journal Title
Journal of Comparative Economics
Conference Name
Journal ISSN
0147-5967
1095-7227
1095-7227
Volume Title
46
Publisher
Elsevier BV