Using data for 160 countries for the period 1963-2001, this paper examines the short-run relationship between economic growth and changes in national leaders. To address the potential endogeneity of economic growth, I use exogenous variation in commodity export prices, export partner incomes,...

Using an improved definition and indicator of growth accelerations, we examine whether political regimes, regime changes, and economic reform are related to growth accelerations. Our results show that economic growth accelerations are preceded by economic reforms. Furthermore, we find that...

We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit to future policies, but they can forge a political compromise where each...