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In most national elections, voters face a key choice between continuity and change. Electoral turnovers occur when the incumbent candidate or party fails to win reelection. To understand how turnovers affect national outcomes, we study the universe of presidential and parliamentary elections...
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This study investigates movements of the stock return volatility during election periods (from one-year before an … election to one-year after the election) with the use of data from 16 countries. The main findings of this study are (1) stock … return volatility declines over time as elections approach, (2) the level of the stock return volatility during election …
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We examine the relationship between terrorism and cabinet duration. Our data set includes more than 2,400 cabinets in over 150 countries in the period 1968-2002. We find a small, but significant effect of terrorism on the probability of government failure. Furthermore, we find that the impact of...
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