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In many Swiss cantons, new government programs must be approved by a referendum of citizens before money can be spent. Referendums seem like a natural way to address citizen-legislator agency problems, yet statistical evidence on how referendums affect spending decisions is almost nonexistent....
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Standard agency theory suggests that rational voters will vote to re-elect politicians who deliver favorable outcomes. A second implication is that rational voters will not support a politician because of good outcomes unrelated to the politician's actions. Specifically, rational voters should...
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The present work analyzes the impact of foreign direct investment (FDI) and corruption on the quality of the … environment in the MENA region. Indeed, the magnitude of corruption and the quality of institutions are often cited as the main … recommend greater awareness of the harmful effects of corruption among political and economic actors. …
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