The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of...

Using data for 278 Portuguese mainland municipalities, we estimate the impact of national and local economic conditions on legislative electoral outcomes over the period from the reestablishment of democracy in 1974 to the present. Empirical results indicate that the performance of the national...

This article tests the hypothesis that the opportunistic manipulation of financial accounts by mayors increases their chances of re-election. Working with a large and detailed dataset comprising all Portuguese mainland municipalities, which covers the municipal elections that took place from...

The purpose of this paper is to empirically determine the causes of the worldwide diversity of inflation volatility. We show that higher degrees of political instability, ideological polarization and political fragmentation are associated with higher inflation volatility

This article tests for the existence of rational political business cycles models using a large and unexplored data set of Portuguese municipalities. The data set is well-suited for this purpose because it provides a high level of detail on expenditure items, because Portuguese municipalities...

Using a panel data set covering the period 1970-2004 and 96 countries, we provide empirical evidence that the composition of foreign capital, measured by the ratio FDI over total liabilities, has a positive effect on growth, directly and through convergence. Developing countries benefit...

This paper simultaneously analyses the determinants of intergovernmental fiscal transfers and the votes that these transfers earn in subsequent legislative elections in Portugal. Results suggest that election year increases in transfers by the central government to municipalities secure added...