Nope, it doesn't. Imperialism is given by absolute monarch, republican dictatorship and so on.
If you're playing a warmonger, I'd suggest becoming an empire. It gives you a slight morale and magistrate bonus (compared to feudal/despotic monarchy). Furthermore, it's easier to become absolute monarchy, because changing from empire costs you only one stability point (AFAIR, I may be wrong).
Oh, forgot. Emperor title is cool (Kaiser, Czar etc. are even cooler).







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