The Political Economy of Populism

We synthesize the literature on recent rise of populism. First, we discuss definitions and present descriptive evidence increase in support for populists. Second, cover historical evolution populist regimes since late nineteenth century. Third, role secular economic factors related to cross-border trade automation. Fourth, review studies 2008–09 global financial crisis subsequent austerity, connect them work covering Great Depression, likely mechanisms. Fifth, identity politics, trust, cultural backlash. Sixth, consequences growth immigration refugee crisis. also gap between perceptions reality regarding immigration. Seventh, impact internet social media. Eighth, implications populism’s rise. conclude outlining avenues further research. (JEL D72, E32, G01, J15, N30, N40, Z13)