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Does economic openness affect liberal and electoral democracy in a different way? Empirical evidence from developing countries
Author(s) -
Kablamaci Baris
Publication year - 2019
Publication title -
scottish journal of political economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.4
H-Index - 46
eISSN - 1467-9485
pISSN - 0036-9292
DOI - 10.1111/sjpe.12193
Subject(s) - openness to experience , democracy , economics , liberalization , globalization , panel data , politics , de facto , liberal democracy , international economics , developing country , economic liberalization , empirical evidence , development economics , economic system , macroeconomics , political science , market economy , economic growth , econometrics , psychology , social psychology , law , philosophy , epistemology
The focus of this paper was to empirically analyze the impacts of economic liberalization on the liberal and electoral democracy in a sample of 106 less developed and developing countries over the period 1970–2016. The economic relationship between these countries and the global trade and the financial system generates a crucial question of to what extent political conditions are affected by this changing relation. To test these relationships, this paper uses V‐Dem's liberal democracy and electoral democracy indices and nine economic liberalization variables. Utilizing two‐step system dynamic panel GMM estimation indicates that trade openness and economic globalization, de facto strongly affects electoral democracy.