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Political Partisanship and Financial Reforms in Advanced Countries

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.
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https://halshs.archives-ouvertes.fr/halshs-00639840
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Submitted on : Thursday, November 10, 2011 - 9:37:18 AM
Last modification on : Tuesday, January 19, 2021 - 11:08:50 AM
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Thibault Darcillon. Political Partisanship and Financial Reforms in Advanced Countries. 2011. ⟨halshs-00639840⟩

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