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In this paper we propose an electoral model that studies the interaction between the distribution of voters ideal policies and the success of dynastic politicians. Electoral success of politicians depends on their ability to implement better policies for the voters because campaign promises are...
Persistent link: https://www.econbiz.de/10012968050
Using the regression discontinuity design of close gubernatorial elections in the U.S., we identify a significant and positive impact of the social networks of corporate directors and politicians on firm value. Firms connected to elected governors increase their value by 3.89%. Political...
Persistent link: https://www.econbiz.de/10013037076
Does higher office always lead to more favoritism? We argue that firms may lose their benefit from a connected 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...
Persistent link: https://www.econbiz.de/10014427625
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There is wide consensus that social capital increases government performance. However, the very mechanism underlying the relationship between social capital and well-performing governments remains unclear. In this paper we focus on the budgetary composition of local governments and find that the...
Persistent link: https://www.econbiz.de/10012953067