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1 juin 2022
- handle: 10670/1.21zv6f
- hal: hal-03881225
http://creativecommons.org/licenses/by-nc-nd/ , info:eu-repo/semantics/OpenAccess
Mots-clés
Populism Protectionism Institutions E - Macroeconomics and Monetary Economics/E.E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook/E.E6.E60 - General N - Economic History/N.N1 - Macroeconomics and Monetary Economics • Industrial Structure • Growth • Fluctuations/N.N1.N10 - General, International, or Comparative P - Economic Systems/P.P1 - Capitalist Systems/P.P1.P16 - Political EconomyCiter ce document
Manuel Funke et al., « Populist Leaders and the Economy », HAL-SHS : économie et finance, ID : 10670/1.21zv6f
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Résumé
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 longrun cross-country database to study the macroeconomic history of populism. We identify 51 populist presidents and prime ministers from 1900 to 2020 and show that the economic cost of populism is high. After 15 years, GDP per capita is 10% lower compared to a plausible nonpopulist counterfactual. Economic disintegration, decreasing macroeconomic stability, and the erosion of institutions typically go hand in hand with populist rule.