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Term limits and political accountability

Sturm, Daniel and Smart, Michael (2003) Term limits and political accountability. In: EEA-ESEM 2003, 20-24 Aug 2003, Stockholm, Sweden. (Unpublished)

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Abstract

This paper analyses the impact of term limits in a political agency model. We find that term limits reduce the value of holding office. This reduction in the re-election incentive can induce politicians to implement policies that are closer to their own private preferences. Such "truthful" behaviour by incumbents will in turn result in a better screening of incumbents whose preferences do not correspond to voters' preferences. We show that these effects can make a two-term term limit, which is the empirically most frequent restriction on tenure, ex ante welfare improving from the perspective of voters

Item Type: Conference or Workshop Item (Paper)
Official URL: http://www.eea-esem.com/eea-esem/2003/prog/
Additional Information: © 2003 the authors
Library of Congress subject classification: J Political Science > JA Political science (General)
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 18 Aug 2008 11:08
URL: http://eprints.lse.ac.uk/20892/

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