situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First … over the possibility of government policies or instability brought by the election. During a crisis, however, investors …, results show that the election induced peak shrinks from 3 months before and after the election date to 1-2 months when the …

presidential election does not only indirectly confirms the minority representation thesis, but also suggests the viability of …