Globalization, Time-Preferences, and Populist Voting

Arbeitspapier

Societies see growing support for populist politicians who advocate an end to globalization. Our behavioral economics model links impatience to voters’ appraisals of an income shock due to globalization that is associated with short-run costs and delayed gains. The model shows that impatient individuals may reject further globalization if they are subject to borrowing constraints. Using German data, we confirm that impatient voters choose right-wing anti-globalist parties. Similarly, we show for the United Kingdom that a preference for immediate gratification increases the support for right-wing anti-globalist parties as well as for Brexit. A policy implication of our study is that governments may use up-front redistribution to gain voters’ support for further globalization.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 8466

Classification and Topics

• Classification: Wirtschaft ; Intertemporal Household Choice; Life Cycle Models and Saving ; Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡ ; Economic Integration ; Economic Impacts of Globalization: Microeconomic Impacts ; Economic Impacts of Globalization: Policy ; National Government Expenditures and Welfare Programs
• Subject: globalization ; time-preference ; impatience ; time-inconsistency ; populism ; Brexit ; up-front redistribution

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Aronsson, Thomas ; Hetschko, Clemens ; Schöb, Ronnie
• Event: Veröffentlichung
• (who): Center for Economic Studies and Ifo Institute (CESifo)
• (where): Munich
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/223538
• Last update: 10.03.2025, 11:42 AM CET