This article investigates the patronage phenomenon in the italian, so called, Second Republic. In particular, the … instrument to control and reward politicians' loyalty throughout a legislature. Especially in a majoritarian electoral system …, where the interests of political parties and districts may diverge, the formers would need patronage resource to assure …

politicians ascent to higher office, if it entails stricter scrutiny that may reduce favoritism. Around close Congress elections …, we find RDD-based evidence of this adverse effect that a politicians win reduces his former classmates firms stock value … effect. It further varies with politicians power, firm size and governance, and connection strength, and diminishes as a …

distribution of political nominations and government contracts. Anticorruption laws forbid trade in spoils that politicians … distribute. However, citizens may pay for gaining access to politicians and, thereby, to become potential candidates for …

the long-run however, the effect is instead compositional in the sense that ex-politicians receive more pension income and …