GSNAS doctoral candidate Manuel Funke and his co-authors Moritz Schularick and Christoph Trebesch have published the results of their latest study on the political aftermath of economic crises on VoxEU.org.

They analyzed voting patterns in 20 advanced economies, using a dataset that goes back as far as the 1870s and covers over 800 elections. Also taking into account existing data on financial crises and street protests, Funke, Schularick, and Trebesch find that financial crises lead to instability in the political system. They identify the rise of far-right parties and the fractionalization of parliaments as the most prominent effects of this post financial crisis political instability.