Previous studies of policy responses to economic crises argue that crises may lead to more interventionist policy but also cause deregulation. The empirical evidence in previous studies is equally mixed. The present paper argues that whether or not governments implement more or less...

Ever since the spectacular boom and bust cycle of the Spanish real estate industry, endemic corruption at the local level has become a widely recognized problem in the national public discourse. In an effort to expose an under-explored political determinant, this paper investigates the effect of...

Many empirical studies have shown democracies to be more supportive of sound economic institutions than authoritarian regimes and recent analysis also finds that democratic transitions are followed by overall improvements in economic freedom. This sheds some light on a possible chain of...

Past research has demonstrated the economic effectiveness of welfare state reforms that broadly follow the Danish flexicurity model, defined as the combination of highly flexible labor market policies and generous protection schemes for individuals that become unemployed. Notwithstanding, it has...

It has been argued that uncompensated exposure to economic globalization is a main driver of the recent rise in political populism, but empirical evidence is mixed. We empirically reevaluate the issue, where exposure to globalization is defined as deviations from Ruggie’s (1982) embedded...

Following financial research on the importance of public policy for asset prices, we hypothesize that the success of populist movements impacts risk assessments in financial markets. Building a novel dataset, findings show for a sample of Western democracies that the success of populist parties...