INTEREST GROUPS, DEMOCRACY, AND POLICY VOLATILITY. (16th July 2015)

• Record Type: Journal Article
• Authors: Heckelman, Jac C.; Wilson, Bonnie
• Is Part Of: Contemporary economic policy. Volume 34:Number 2(2016:Apr.)
• Page Start: 223
• Page End: 233
• Publication Date: 2015-07-16
• Subjects: Economic policy -- Periodicals; United States -- Economic policy -- 1993-2001 -- Periodicals; United States -- Economic policy -- 2001- -- Periodicals; 338.9005
• DOI: 10.1111/coep.12118
• Languages: English
• ISSNs: 1074-3529

Abstract

Abstract: Democratic polities appear to produce more stable policy than do autocracies. In this paper, we explore a potential source of the policy stability observed in democracies: special‐interest groups. We find that interest groups are associated with greater stability in some measures of policy and that groups mediate the stabilizing impact of democracy on policy. We also find that the impact of interest groups on policy volatility depends on the degree of polarization in a society. ( JEL P16, O43, D7)