IfW in den Medien

Ten years after Lehman: Can liberal democracy survive another financial crisis?


Empirische Analyse von Christoph Trebesch und Manuel Funke, wonach vor allem rechte Parteien nach Finanzkrisen Zulauf bekommen.

Aus dem Artikel

(...) Yet, although most people do not realise it, the financial crisis has likely had an important role in the erosion of liberal Western democracy. Economists Manuel Funke, Moritz Schularick, and Christoph Trebesch have shown that, in advanced economies during a long period beginning in 1870, right-wing parties’ vote share increased by an average of 30 percent (not percentage points) following financial crises. This effect has been peculiar to financial crises and does not apply to recessions or macroeconomic shocks that come from outside the financial system.

Fachlicher Kontakt