Political business cycles: a reviewa

Tânia Marta Maia Fialho ()

Brazilian Journal of Political Economy, 1999, vol. 19, issue 2, 381-400

Abstract: In the last four decades, the relationship between economic performance andpolitics has been examined by means of various theoretical and empirical approaches, suggestingthe possibility of a political business cycle in many countries. This study presents areview of the main models of Business Cycle Theory and of the main findings reported inthe international literature. In part, the empirical evidence suggests that the political variable,particularly the electoral variable, is an important determinant of cyclical movements in theeconomy, indicating that Business Cycle Theory is consistent with the observed performanceof several modem democratic societies. JEL Classification: D72; D78; B21; H50.

Keywords: Political budget cycles; elections; fiscal policy; public expenditure (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:19:y:1999:i:2:p:381-400:id:1060

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