TY  - JOUR
AU  - Eichengreen,Barry
TI  - Democracy and Globalization
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 12450
PY  - 2006
Y2  - August 2006
UR  - http://www.nber.org/papers/w12450
L1  - http://www.nber.org/papers/w12450.pdf
N1  - Author contact info:
Barry Eichengreen
Department of Economics
University of California, Berkeley
549 Evans Hall 3880
Berkeley, CA 94720-3880
Tel: 510/642-2772
Fax: 510/643-0926
E-Mail: eichengr@econ.Berkeley.edu
AB  - The connections between globalization and democracy are a classic question in international political economy and a topic much debated in foreign policy circles.  While the analytical literature is extensive, few previous studies have acknowledged the possibility of bidirectional causality or developed an instrumental variables strategy suitable for addressing it.  We do so in this paper and apply our approach to an extensive historical data set.  The results suggest the existence of positive relationships running both ways between globalization and democracy, though exceptions obtain at particular times (during the Bretton Woods era) and places (in labor scarce economies).
ER  -