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 …

The widespread second-order view on subnational elections leaves little room for the idea that subnational election … of subnational election campaigns for national-level vote intentions in multilevel systems. Campaigns direct citizens …' attention to the political and economic fundamentals that determine their electoral preferences. Subnational election campaigns …

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 …