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Political competition and economic performance: theory and evidence from the United States

Besley, Timothy, Persson, Torsten and Sturm, Daniel.M (2005) Political competition and economic performance: theory and evidence from the United States. PEPP/5. Suntory and Toyota International Centres for Economics and Related Disciplines, London School of Economics and Political Science, London, UK.

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Abstract

One of the most cherished propositions in economics is that market competition by and large raises consumer welfare. But whether political competition has similarly virtuous consequences is far less discussed. This paper formulates a model to explain why political competition may enhance economic performance and uses the United States as a testing ground for the model’s implications. It finds statistically robust evidence that political competition has quantitatively important effects on state income growth, state policies, and the quality of Governors.

Item Type: Monograph (Discussion Paper)
Official URL: http://sticerd.lse.ac.uk/
Additional Information: © 2005 the author
Library of Congress subject classification: J Political Science > JK Political institutions (United States)
J Political Science > JC Political theory
H Social Sciences > HB Economic Theory
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Research centres and groups > Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD)
Departments > Economics
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: PEPP/5
Date Deposited: 10 Mar 2008 11:40
URL: http://eprints.lse.ac.uk/3770/

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