Are Elections Debt Brakes? Evidence from French Municipalities

We show that voters are fiscal conservatives, although in the long run only: while the average (over the mandate) level of debt has a negative impact on the probability of reelection, pre-election debt accumulation by incumbents increases their probability of reelection. As the negative impact is larger the higher the debt level, it compensates the short run effect. Elections thus appear as a disciplining device, even if a weak one.

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Year of publication:	2013
Authors:	Caseette, Aurélie ; Farvaque, Etienne
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Debt \| Elections \| Municipalities \| Political Business Cycle

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	D72 - Economic Models of Political Processes: Rent-Seeking, Elections, Legistures, and Voting Behavior ; H72 - State and Local Budget and Expenditures ; H74 - State and Local Borrowing
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011108703