Vote buying or (Political) business (cycles) as usual?
Review of Economics and Statistics
MIT Press - Journals
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Aidt, T., Asatryan, Z., Badalyan, L., & Heinemann, F. (2020). Vote buying or (Political) business (cycles) as usual?. Review of Economics and Statistics, 102 (3), 409-425. https://doi.org/10.1162/rest_a_00820
<jats:p> We report robust evidence of a new short-run monetary election cycle: the monthly growth rate of the money supply (M1) around elections is higher than in other months in a sample of low- and middle-income countries. We hypothesize this is related to systemic vote buying. Consistent with this, we find no cycle in authoritarian countries and countries with strong political institutions and a pronounced cycle in elections where international election monitors reported vote buying or in close elections. Using survey data on daily consumer expenditures, we show that within-household consumption of food increases in the days before elections. </jats:p>
External DOI: https://doi.org/10.1162/rest_a_00820
This record's URL: https://www.repository.cam.ac.uk/handle/1810/288566