according to the 1995 election law. We show that in the second and third weeks after the 2020 elections (held on October 9 …

results of the system GMM revealed that the fiscal deficit is significantly large in election years and the deficit spending … spills into the year after the election, though not as high as in the election year. We could not, however, find a … significant effect in the pre-election year. In addition, we found evidence suggesting that though democracy significantly lowers …