Political Competition, Policy and Growth: Theory and Evidence from the United States

This paper develops a simple model to analyze how a lack of politi-cal competition may lead to policies that hinder economic growth. Wetest the predictions of the model on panel data for the US states. Inthese data, we nd robust evidence that lack of political competitionin a state is associated with anti-growth policies: higher taxes, lowercapital spending and a reduced likelihood of using right-to-work laws.We also document a strong link between low political competition andlow income growth.[...]

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Year of publication:	2010
Authors:	Besley, Timothy ; Persson, Torsten ; Sturm, Daniel
Institutions:	London School of Economics and Political Science
Subject:	Wettbewerb \| market microstructure \| Wirtschaftswachstum \| Politik \| Wachstum \| Kapital

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Extent:	233472 bytes 37 p. application/pdf
Series:	London School of Economics and Political Science - Publications
Type of publication:	Book / Working Paper
Language:	English
Classification:	Specific management methods ; Financial theory ; Market research ; Individual Working Papers, Preprints ; USA
Source:	USB Cologne (business full texts)