Inequality and the instability of polity and policy
Author: Dutt, Pushan ; Mitra, DevashishINSEAD Area: Economics and Political ScienceIn: Economic Journal, vol. 118, no. 531, August 2008 Language: EnglishDescription: p. 1285-1314.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: We create alternative measures of political instability, which capture only movements from dictatorship to democracy and vice versa and, unlike older, well known measures does not capture government changes that preserve the democratic or dictatorial structure of the country. We show that inequality is positively correlated with our measures of political instability as well as with a well-known measure (used by Alesina and Perotti), but the impact of inequality on the latter is only through components of political instability captured by our measures. We show that our measures of political instability have significant policy implications it increases both fiscal and trade polity volatility.| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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Europe Campus | Available | BC008463 |
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We create alternative measures of political instability, which capture only movements from dictatorship to democracy and vice versa and, unlike older, well known measures does not capture government changes that preserve the democratic or dictatorial structure of the country. We show that inequality is positively correlated with our measures of political instability as well as with a well-known measure (used by Alesina and Perotti), but the impact of inequality on the latter is only through components of political instability captured by our measures. We show that our measures of political instability have significant policy implications it increases both fiscal and trade polity volatility.
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