Citation

Discussion Paper Details

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Full Details

Title: Political Competition and Economic Performance: Theory and Evidence from the United States

Author(s): Timothy J. Besley, Torsten Persson and Daniel M Sturm

Publication Date: July 2005

Keyword(s): economic growth, political competition, US south and voting restrictions

Programme Area(s): Institutions and Economic Performance, International Macroeconomics and Public Economics

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.

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Bibliographic Reference

Besley, T, Persson, T and Sturm, D. 2005. 'Political Competition and Economic Performance: Theory and Evidence from the United States'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=5138