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Cited by 366

The DOI matches its Crossref record; 51 of the 51 references it cites were found in a registry or an index.

Policy Volatility, Institutions, and Economic Growth

Fatás, Antonio, Mihov, Ilian·2013·Review of Economics and Statistics
DOI 10.1162/rest_a_00265
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Abstract

In this paper, we present evidence that policy volatility exerts a strong and direct negative impact on growth. Using data for 93 countries, we construct measures of policy volatility based on the standard deviation of the residuals from country-specific regressions of government consumption on output. Undisciplined governments that implement frequent and large changes in government spending unrelated to the state of the business cycle generate lower economic growth. We employ both instrumental variables and panel estimation to address concerns of omitted variables and endogeneity. A 1 standard deviation increase in policy volatility reduces long-term economic growth by about 0.74% in the panel regressions and by more than 1 percentage point in the cross-section.

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Metadata

Authors
Fatás, A., & Mihov, I.
Venue
Review of Economics and Statistics
Publisher
MIT Press - Journals
Published
2013-05
Volume
95
Issue
2
Pages
362-376
ISSN
  • 0034-6535 (ISSN-L)
  • 1530-9142
DOI
10.1162/rest_a_00265
OpenAlex
W1990905344
Cited by
366
References
51
FWCI
47.72
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Policy Volatility, Institutions, and Economic Growth. https://app.cochat.ai/papers/10.1162/rest_a_00265
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Fatás, A., & Mihov, I. (2013). Policy Volatility, Institutions, and Economic Growth. Review of Economics and Statistics. https://doi.org/10.1162/rest_a_00265

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.