<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods of quantification. It also summarizes the results of the theoretical and empirical research on the economic implications of political instability. In contrast with the previous literature reviews, this article is not limited to the relationship between of political instability and one specific macroeconomic phenomenon but intends to summarize the findings of the research regarding its impact on a variety of economic phenomena investigated in the literature. The review covers the most influential publications in this area characterized by formulation of original research hypotheses, use of novel datasets, and development of innovative research methods. The research reviewed shows that political instability has a detrimental effect on economic growth, investment, inflation, fiscal deficits, public debt, and the functioning of financial markets.</p>
</abstract>

This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its potentially profound economic consequences. The article explores this concept by working through the definitions, dimensions, and methods of quantification. It also summarizes the results of the theoretical and empirical research on the economic implications of political instability. In contrast with the previous literature reviews, this article is not limited to the relationship between of political instability and one specific macroeconomic phenomenon but intends to summarize the findings of the research regarding its impact on a variety of economic phenomena investigated in the literature. The review covers the most influential publications in this area characterized by formulation of original research hypotheses, use of novel datasets, and development of innovative research methods. The research reviewed shows that political instability has a detrimental effect on economic growth, investment, inflation, fiscal deficits, public debt, and the functioning of financial markets.

The concept of political instability in economic research

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"The concept of political instability in economic research"}

This article reviews the use of the concept of political instability in economic research, the importance of which has been growing in recent years due to its...

The concept of political instability in economic research

Article Category: In-depth literature review

Published Online: Sep 30, 2021

Page range: 268 - 284

Received: Nov 26, 2020

Accepted: Jul 17, 2021

DOI: https://doi.org/10.2478/ijme-2021-0016

Keywords
economic growth, political economy, political instability, political violence

© 2021 Łukasz Jannils, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The concept of political instability in economic research

Article Category: In-depth literature review

Published Online: Sep 30, 2021

Page range: 268 - 284

Received: Nov 26, 2020

Accepted: Jul 17, 2021

DOI: https://doi.org/10.2478/ijme-2021-0016

Keywordseconomic growth, political economy, political instability, political violence

© 2021 Łukasz Jannils, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
economic growth, political economy, political instability, political violence