Political Partisanship and Financial Reforms in Advanced Countries

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: Applying regressions on a sample of 18 OECD countries from 1970 to 2009 using new indicators, we find that right-wing governments liberalize more the financial sector that left-wing governments. We show that if a left-wing government accepts to liberalize the financial sector, an increase of social security expenditures can facilitate the adoption of a new legislation in the financial sector. To estimate the impact of the government partisan affiliation on the corporate governance legislation, we use a probit model and a conditional Cox model in gap time in 16 OECD over the 1970-2009 period. Statistically, we find that right-wing governments enhance more pro-shareholder policies.

Keywords: Effet partisan; libéralisation financière; gouvernance d'entreprise; changement institutionnel.; Political Partisanship; financial liberalization; corporate governance; institutional change. (search for similar items in EconPapers)
Date: 2011-10
New Economics Papers: this item is included in nep-pol
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00639840v1
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Published in 2011

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Related works:
Working Paper: Political Partisanship and Financial Reforms in Advanced Countries (2011)
Working Paper: Political Partisanship and Financial Reforms in Advanced Countries (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-00639840

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