Democracy and Reforms: Evidence from a New Dataset
---- Acknowledgements -----
This paper was also published as IMF Working Paper 10/173. Alessandro Prati provided invaluable comments and suggestions. We are grateful to Daron Acemoglu, Paola Conconi, Francesco Giavazzi, Dennis Quinn, Guido Tabellini, the seminar participants at the 2007 IMF seminar on structural reforms, the 2008 Annual Meetings of the American Economic Association in Atlanta, the 2008 North-Eastern Universities Development Conference in Boston, the 2008 IMF seminar on structural reforms, and the 2010 annual meeting of the Society for Economic Dynamics for helpful comments. The views expressed in this paper are those of the authors and do not necessarily represent those of the IMF, its board of directors, or the National Bureau of Economic Research.