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Populist Leaders and the Economy

Manuel FunkeMoritz SchularickChristoph Trebesch

出版	Kiel Institute for the World Economy (IfW), 2020
URL	http://books.google.com.hk/books?id=tj4izgEACAAJ&hl=&source=gbs_api

註釋

Populism at the country level is at an all-time high, with more than 25% of nations currently governed by populists. How do economies perform under populist leaders? We build a new long-run cross-country database to study the macroeconomic history of populism. We identify 50 populist presidents and prime ministers from 1900 to 2018 and show that the economic cost of populism is high. After 15 years, GDP per capita is 10% lower compared to a plausible non-populist counterfactual. Rising economic nationalism and protectionism, unsustainable macroeconomic policies, and institutional decay under populist rule do lasting damage to the economy.