LEGISLATIVE TURNOVER, FISCAL POLICY, AND ECONOMIC GROWTH: EVIDENCE FROM U.S. STATE LEGISLATURES
Yogesh Uppal () and
Economic Inquiry, 2015, vol. 53, issue 1, 91-107
Increased turnover among legislators can make them short‐sighted, affecting fiscal policy and economic growth. We exploit the exogenous variation in legislative turnover induced by term limit laws and by redistricting in the 50 U.S. states, finding that increased turnover increases capital spending by state governments, which may be designed to constrain future governments. The changes may cause long‐run distortions in the economy, reducing long‐term economic growth. (JEL H72, H73, H76)
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Working Paper: Legislative turnover, fiscal policy, and economic growth: evidence from U.S. state legislatures (2011)
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