Publication

This paper examines the economic policies of young democracies and analyzes if these are necessarily the same as the policies required for tackling difficult issues of economic stabilization and reform. The authors further explore the findings of several important empirical studies with respect to the economic performance of young democracies around the world and provide some descriptive statistics on how the new democracies have fared in practice. The authors find considerable variation in economic performance, suggesting that the design of political institutions in new democracies may have a significant influence on the probability of their survival.