Vote Buying or (Political) Business (Cycles) as Usual?

Toke Aidt, Zareh Asatryan, Lusine Badalyan and Friedrich Heinemann
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Lusine Badalyan: University of Giessen

The Review of Economics and Statistics, 2020, vol. 102, issue 3, 409-425

Abstract: We report robust evidence of a new short-run monetary election cycle: the monthly growth rate of the money supply (M1) around elections is higher than in other months in a sample of low- and middle-income countries. We hypothesize this is related to systemic vote buying. Consistent with this, we find no cycle in authoritarian countries and countries with strong political institutions and a pronounced cycle in elections where international election monitors reported vote buying or in close elections. Using survey data on daily consumer expenditures, we show that within-household consumption of food increases in the days before elections.

Date: 2020
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Related works:
Working Paper: Vote Buying or (Political) Business (Cycles) as Usual? (2015)
Working Paper: Vote buying or (political) business (cycles) as usual? (2015)
Working Paper: Vote buying or (political) business (cycles) as usual? (2015)
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