Politics and economics

Martin Halla, Alexander Wagner, Josef Zweimüller , 29 November 2015

Europe is experiencing an unprecedented inflow of immigrants. Casual observation suggests that far-right parties could benefit from voters’ worries about this inflow. This update to a column from September 2012 provides empirical evidence showing that the geographic proximity of immigrants is one important causal driver behind support for the far right. The link with voting outcomes depends on the type of immigration, however, not just on the total number of immigrants.

Manuel Funke, Moritz Schularick, Christoph Trebesch, 21 November 2015

Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. This column uses a new dataset that covers elections and crises in 20 advanced economies going back to 1870 to systematically study the political aftermath of financial crises. Far-right parties are the biggest beneficiaries of financial crises, while the fractionalisation of parliaments complicates post-crisis governance. These effects are not observed following normal recessions or severe non-financial macroeconomic shocks.

Sharun Mukand, Dani Rodrik, 29 September 2015

There are more democracies in the world than non-democracies, but few of the democracies go beyond electoral competition. This column highlights the contrast between electoral democracies and liberal ones, that is, those that protect civil rights in addition to political and property rights. Liberal democracies are rare because the failure to protect minority rights is a common consequence of the emergence of democracy. They are especially uncommon in the developing world, where decolonisation and identity cleavages sparked social mobilisation.

Jan Fredrick P. Cruz, Ronald U Mendoza , 31 August 2015

Clinton. Bush. Kennedy. Political family dynasties have survived the establishment of democracies in the developed and developing world and, in some cases, are strengthening. This column argues that political dynasties are still with us, and that it’s fairly easy to see why. Whoever said that elections are the only time that the vote of the richest citizen is equivalent to that of the poorest needs to start rethinking whether this still holds true.

Vincent Anesi, Giovanni Facchini, 08 August 2015

In international trade disputes, coercion is often used against governments whose trade practices are deemed unfair. This column presents a theoretical model that offers a new rationale for the greater effectiveness of multilateral compared to unilateral coercion, and hence provides a new argument in favour of commitment to international organisations.

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