DO BUSINESSMEN MAKE GOOD GOVERNORS?

Florian Neumeier ()

Economic Inquiry, 2018, vol. 56, issue 4, 2116-2136

Abstract: This paper evaluates the economic performance of U.S. state governors with a business background (chief executive officer [CEO] governors). Applying a matching method, I find, first, that businesspeople tend to take office in times of economic and fiscal strain. Second, the tenures of CEO governors are associated with a 0.5 percentage points (pp.) higher annual income growth rate, a 0.4 pp. higher growth rate of the private capital stock, and a 0.6 pp. lower unemployment rate than are the tenures of non‐CEO governors. State‐level income inequality is not affected by CEO governors holding office, indicating that low‐income households benefit from the economic upswing. (JEL C21, E24, O47)

Date: 2018
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https://doi.org/10.1111/ecin.12576

Related works:
Working Paper: Do businessmen make good governors? (2018)
Working Paper: Do Businessmen Make Good Governors? (2016)
Working Paper: Do Businessmen Make Good Governors? (2015)
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