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- W2287457717 abstract "This paper presents a framework (“regime specific accountability”) that explains why regimes differ in the ways they pursue trade agreements. From different accountability requirements leaders need to fulfill to remain in power, we deduce two open development strategies: the market-oriented strategy known to developed democracies and the state interventionist strategy typical of autocracies. The two strategies differ in their attitudes toward financial turbulence as well as their policies toward financial market liberalization and income redistribution. We posit that it is the market-oriented leaders of intermediate and transitional regimes (“nascent democracies”) that are those who strongly need international agreements in order to assure international investors when faced with international financial turbulence and to ease the difficulties of accommodating domestic opponents. Empirical analysis corroborates the argument by showing that for nascent democracies, the frequency of currency turbulence, and the levels of financial liberalization, and the size transfer expenditures are positively correlated to the increase of trade agreements. Our finding about nascent democracies suggests the spread of democracies in the 1990s was a factor behind the increase of trade agreements, adjudicating between conflicting claims as to whether democracies or developing economies promote trade agreements." @default.
- W2287457717 created "2016-06-24" @default.
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- W2287457717 date "2014-03-01" @default.
- W2287457717 modified "2023-10-03" @default.
- W2287457717 title "Who Promotes Trade Agreements? A Theory of Regime Specific Development Strategies" @default.
- W2287457717 hasPublicationYear "2014" @default.
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