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The inverse domino effect: are economic reforms contagious?

Gassebner, M., Gaston, N. and Lamla, M. J. (2011) The inverse domino effect: are economic reforms contagious? International Economic Review, 52 (1). pp. 183-200. ISSN 0020-6598

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To link to this item DOI: 10.1111/j.1468-2354.2010.00624.x

Abstract/Summary

This article examines whether a country's economic reforms are affected by reforms adopted by other countries. Our theoretical model predicts that reforms are more likely when factors of production are internationally mobile and reforms are pursued in other economies. Using the change in the Index of Economic Freedom as the measure of market-liberalizing reforms and panel data (144 countries, 1995–2006), we test our model. We find evidence of the spillover of reforms. Moreover, consistent with our model, international trade is not a vehicle for the diffusion of economic reforms; rather the most important mechanism is geographical or cultural proximity.

Item Type:Article
Refereed:Yes
Divisions:No Reading authors. Back catalogue items
Faculty of Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:34879
Publisher:Wiley

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