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Political Cycles In A Developing Economy
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Book Synopsis Political Cycles in a Developing Economy by : Stuti Khemani
Download or read book Political Cycles in a Developing Economy written by Stuti Khemani and published by World Bank Publications. This book was released on 2000 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical results from India suggest that politicians exert greater effort in managing public works during election years. Surprisingly, there is no evidence of a populist spending spree to sway voters just before elections.
Book Synopsis Political Cycles in a Developing Economy by : Stuti Khemani
Download or read book Political Cycles in a Developing Economy written by Stuti Khemani and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical results from India suggest that politicians exert greater effort in managing public works during election years. Surprisingly, there is no evidence of a populist spending spree to sway voters just before elections.Khemani studies the effect of state legislative assembly elections on the policies of state governments in 14 major states of India, from 1960 to 1994. She identifies the effect of the timing of elections using an instrument for the electoral cycle that distinguishes between constitutionally scheduled elections and midterm polls. She contrasts two levers of policy manipulation-fiscal policy and public service delivery-to distinguish between alternative models of political cycles. The predictions of three models are tested:- Populist cycles to woo uninformed and myopic voters.- Signaling models with asymmetric information.- A moral hazard model with high discounting by political agents.The empirical results for fiscal policy show that election years have a negative effect on some commodity taxes, a positive effect on investment spending, but no effect on deficits, primarily because consumption spending is reduced. With regard to public service delivery, elections have a positive and large effect on road construction by state public works departments. Strikingly, the fiscal effects are much smaller than the effect on roads.Khemani argues that the pattern of evidence is inconsistent with the predictions of models of voter myopia and asymmetric information. She explores an alternative moral hazard model in which the cycle is generated by high political discounting and career concerns persuade politicans to exert greater effort in election years on the management of public works.This paper - a product of Public Economics, Development Research Group - is part of a larger effort in the group to understand the effect of political institutions on public policy. The author may be contacted at [email protected].
Book Synopsis Political Cycles and the Macroeconomy by : Alberto Alesina
Download or read book Political Cycles and the Macroeconomy written by Alberto Alesina and published by MIT Press. This book was released on 1997 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how electoral laws, the timing of election, the ideological orientation of governments, and the nature of competition between political parties influence unemployment, economic growth, inflation, and monetary and fiscal policy. The book presents both a thorough overview of the theoretical literature and a vast amount of empirical evidence.
Book Synopsis The Political Economy of Innovation Development by : Iurii Bazhal
Download or read book The Political Economy of Innovation Development written by Iurii Bazhal and published by Springer. This book was released on 2017-06-27 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book finds that the R&D and technological innovation of a country is not a result, but a factor, of sustained economic growth. Bazhal develops Schumpeter's theory to argue that genuine economic growth - especially in transitioning and developing countries - is only possible with innovation. With a particular focus on the work of Ukrainian economists, Tugan-Batanobvsky and Vernadsky, the text seeks to move the discipline forward and explain why innovation has become a primary factor of economic development in recent decades and why its role will become even more dominant in the future. Chapters interrogate whether modern economic theory can explain how we ensure the effective functioning of the market economy. The book shows that explanations of economists and politicians regarding the nature of the current economic and financial crisis, and the causes of huge gaps in levels of wealth in market economies, demonstrates that there are not enough satisfactory answers to this question.
Book Synopsis The Politics of Exchange Rates in Developing Countries by : Ralph Setzer
Download or read book The Politics of Exchange Rates in Developing Countries written by Ralph Setzer and published by Springer Science & Business Media. This book was released on 2006-09-21 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the issue of exchange rate policymaking from a political economy perspective. It illustrates both theoretically and empirically how domestic political and institutional incentives shape exchange rate policies in developing countries. Empirical analysis is based on a panel survey of 47 countries and thereby provides insights on how political and institutional conditions typically affect exchange rate policy.
Book Synopsis Political Business Cycles by : Thomas D. Willett
Download or read book Political Business Cycles written by Thomas D. Willett and published by Duke University Press. This book was released on 1988 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A Pacific Research Institute for Public Policy book." Includes bibliographies and index.
Book Synopsis Political Business Cycles by : Bruno S. Frey
Download or read book Political Business Cycles written by Bruno S. Frey and published by Edward Elgar Publishing. This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of articles on how the government influences the economy in order to secure re-election. This book surveys the empirical and major theoretical approaches, such as vote maximization, partisan and vote-cum-partisan models, and rational political business cycles. It provides extensions including the role of the central bank, of direct democracy, and the cycles in European communist countries, as well as discussing policy relevance.
Book Synopsis The Oxford Handbook of Political Economy by : Barry R. Weingast
Download or read book The Oxford Handbook of Political Economy written by Barry R. Weingast and published by Oxford University Press. This book was released on 2008-06-19 with total page 1112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over its lifetime, 'political economy' has had different meanings. This handbook views political economy as a synthesis of the various strands of social science, treating it as the methodology of economics applied to the analysis of political behaviour and institutions.
Book Synopsis Political Economy, Growth, and Business Cycles by : Alex Cukierman
Download or read book Political Economy, Growth, and Business Cycles written by Alex Cukierman and published by MIT Press. This book was released on 1992 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.
Book Synopsis Political Economy of Policy Reform in Developing Countries by : Anne O. Krueger
Download or read book Political Economy of Policy Reform in Developing Countries written by Anne O. Krueger and published by MIT Press. This book was released on 2002-10 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this examination of the political economy of economic policy determination and evolution in developing countries, Anne Krueger provides concrete insights into the interaction of economic and political variables that determine the success or failure of such policies an understanding that is essential if economists are to provide realistic technical assistance in the formulation of economic policy reform programs. The debt crisis of the 1980s accompanied an era of slow economic growth. Developing countries had widely divergent experiences. Some, like the East Asian countries, weathered the recession to resume and even accelerate growth and to lower their debt-servicing ratios. Others, like those in Africa and Latin America, fell into slow or even negative growth, were unable to tighten their debt burden, and experienced declines in per capita income. Krueger analyzes the interaction of politics and economics in experience with slow growth and debt crisis in terms of three major themes. The first is that politically determined policies have economic consequences that can and do change the political equilibrium that generated those policies. Second, the analysis of the political economy of economic policy determination in developed countries can only be undertaken on the basis of assumptions about the nature of government. These two themes, which have been taken up in current economics and political science literature, imply yet a third and less frequently noted proposition that neither economic policies or governments can be looked at as enduring phenomena. Both the nature of the government and the economic policies can be changed according to the political and economic responses one sets off in the other, resulting in various types of "policy cycles" that need to be better understood.
Book Synopsis Taxation, Responsiveness and Accountability in Sub-Saharan Africa by : Wilson Prichard
Download or read book Taxation, Responsiveness and Accountability in Sub-Saharan Africa written by Wilson Prichard and published by Cambridge University Press. This book was released on 2015-09-11 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is increasingly argued that bargaining between citizens and governments over tax collection can provide a foundation for the development of responsive and accountable governance in developing countries. However, while intuitively attractive, surprisingly little research has captured the reality and complexity of this relationship in practice. This book provides the most complete treatment of the connections between taxation and accountability in developing countries, providing both new evidence and an invaluable starting point for future research. Drawing on cross-country econometric evidence and detailed case studies from Ghana, Kenya and Ethiopia, Wilson Prichard shows that reliance on taxation has, in fact, increased responsiveness and accountability by expanding the political power wielded by taxpayers. Critically, however, processes of tax bargaining have been highly varied, frequently long term and contextually contingent. Capturing this diversity provides novel insight into politics in developing countries and how tax reform can be designed to encourage broader governance gains.
Book Synopsis Economic Cycles, Crises, and the Global Periphery by : Leonid Grinin
Download or read book Economic Cycles, Crises, and the Global Periphery written by Leonid Grinin and published by Springer. This book was released on 2018-06-27 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thought-provoking monograph analyzes long- medium- and short-term global cycles of prosperity, recession, and depression, plotting them against centuries of important world events. Major research on economic and political cycles is integrated to clarify evolving relationships between the global center and its periphery as well as current worldwide economic upheavals and potential future developments. Central to this survey are successive waves of industrial and, later, technological and cybernetic progress, leading to the current era of globalization and the changes of the roles of both Western powers and former minors players, however that will lead to the formation of the world order without a hegemon. Additionally, the authors predict what they term the Great Convergence, the lessening of inequities between the global core and the rest of the world, including the wealth gap between First and Third World nations. Among the topics in this ambitious volume: · Why politics is often omitted from economic analysis. · Why economic cycles are crucial to understanding the modern geopolitical landscape. · How the aging of the developed world will affect world technological and economic future.“/p> · The evolving technological forecast for Global North and South. · Where the U.S. is likely to stand on the future world stage. Economic Cycles, Crises, and the Global Periphery will inspire discussion and debate among sociologists, global economists, demographers, global historians, and futurologists. This expert knowledge is necessary for further research, proactive response, and preparedness for a new age of sociopolitical change.
Book Synopsis Deals and Development by : Lant Pritchett
Download or read book Deals and Development written by Lant Pritchett and published by Oxford University Press. This book was released on 2017-11-03 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. When are developing countries able to initiate periods of rapid growth and why have so few of these countries been able to sustain growth over decades? Deals and Development: The Political Dynamics of Growth Episodes seeks to answer these questions and many more through a novel conceptual framework built from a political economy of business-government relations. Economic growth for most developing countries is not a linear process. Growth instead proceeds in booms and busts, yet most frameworks for thinking about economic growth are built on the faulty assumption that a country's economic performance is largely stable. Deals and Development explains how growth episodes emerge and when growth, once ignited, is maintained for a sustained period. It applies its new framework to examine the growth of countries across a range of institutional and political contexts in Africa and Asia, using the examples of Bangladesh, Cambodia, India, Malaysia, Thailand, Ghana, Liberia, Malawi, Rwanda and Uganda. Through these country analyses it demonstrates the explanatory power of its framework and the importance of feedback cycles in which economic trends interact with political behaviour to either sustain or terminate a growth episode. Offering a lens through which to analyse complex scenarios and unwieldy amounts of information, this book provides actionable levers of intervention to bring around reform and improve a country's chance at achieving transformative economic growth.
Book Synopsis Global Business Cycles and Developing Countries by : Eri Ikeda
Download or read book Global Business Cycles and Developing Countries written by Eri Ikeda and published by Routledge. This book was released on 2019-09-17 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates how global business cycles impact the economies of developing countries. Global business cycles, the wave-like movements of economic expansion followed by contraction in aggregate economic activities, impact all economies comprising the global economy. The patterns being shown in developing countries correspond increasingly to those in the global north, and yet there is a relative dearth of studies exploring whether global business cycles exist and how they operate in developing economies. This book explores how cycles operate at the global and sub-global developing country levels, with a particular focus on the level of development and the structure of the economies. Drawing an important distinction between cycles and fluctuations, the book criticises mainstream conceptualisation and identification of cycle phenomena, and instead proposes an alternative conception and methodology for the identification of cycles. Along the way, the book also delves into the manufacturing and rise of China, and other potential competitors in the industrial arena, as increasingly important drivers of global cycles and global economic growth. This book will be an important read for researchers and upper-level students of development economics and international political economy.
Book Synopsis Pillars of Prosperity by : Timothy Besley
Download or read book Pillars of Prosperity written by Timothy Besley and published by Princeton University Press. This book was released on 2011-08-28 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: How nations can promote peace, prosperity, and stability through cohesive political institutions "Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things." So wrote Adam Smith a quarter of a millennium ago. Using the tools of modern political economics and combining economic theory with a bird's-eye view of the data, this book reinterprets Smith's pillars of prosperity to explain the existence of development clusters—places that tend to combine effective state institutions, the absence of political violence, and high per-capita incomes. To achieve peace, the authors stress the avoidance of repressive government and civil conflict. Easy taxes, they argue, refers not to low taxes, but a tax system with widespread compliance that collects taxes at a reasonable cost from a broad base, like income. And a tolerable administration of justice is about legal infrastructure that can support the enforcement of contracts and property rights in line with the rule of law. The authors show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods. In line with much historical research, international conflict has also been an important force behind effective states by fostering common interests. The absence of common interests and/or cohesive political institutions can explain the existence of very different development clusters in fragile states that are plagued by poverty, violence, and weak state capacity.
Book Synopsis The Oxford Handbook of the Economics of Central Banking by : David G. Mayes
Download or read book The Oxford Handbook of the Economics of Central Banking written by David G. Mayes and published by Oxford Handbooks. This book was released on 2019-03-15 with total page 809 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Handbook reflects the state of the art in the theory and practice of central banking. It covers all the essential areas that have come under scrutiny since the global financial crisis of 2007-9"--
Book Synopsis Fiscal Policy over the Election Cycle in Low-Income Countries by : Mr.Christian Ebeke
Download or read book Fiscal Policy over the Election Cycle in Low-Income Countries written by Mr.Christian Ebeke and published by International Monetary Fund. This book was released on 2013-06-26 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on Low-Income Countries, we investigate the behavior of fiscal variables during and after elections. The results indicate that during election years, government consumption significantly increases and leads to higher fiscal deficits. During the two years following elections, the fiscal adjustment takes the form of increased revenue mobilization in trade taxes and cuts to government investment, with no significant cuts in government consumption. Using a new dataset on national fiscal rules and IMF programs, we find that both the presence of fiscal rules and IMF programs help dampen the magnitude of the political budget cycle in LICs. We conclude that elections not only imply a macroeconomic cost when they take place but also trigger a painful fiscal adjustment in which public investment is largely sacrificed.
