Countries that experience democratic backsliding are more likely to face downgrades in their bond ratings 📉. The erosion of democratic institutions (e.g. electoral accountability 🗳️, institutional checks and balances ⚖️) increasing the likelihood of reckless economic policies 💸 and default.
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#DemocraticBacksliding #BondRatings #EconomicPolicy #InstitutionalIntegrity #FiscalResponsibility
Read Full Article
#DemocraticBacksliding #BondRatings #EconomicPolicy #InstitutionalIntegrity #FiscalResponsibility
OUP Academic
Economic costs of democratic backsliding: how does democratic backsliding affect sovereign bond ratings?
Abstract. Gradual declines of democratic regimes characterize the contemporary political landscape. In response to this trend, a burgeoning body of literat
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