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The Private Returns to Public Office

Raymond Fisman, Florian Schulz and Vikrant Vig

Journal of Political Economy, 2014, vol. 122, issue 4, 806 - 862

Abstract: We study the wealth accumulation of Indian state politicians using public disclosures required of all candidates. The annual asset growth of winners is 3-5 percent higher than that of runners-up, a difference that holds also in a set of close elections. The relative asset growth of winners is greater in more corrupt states and for those holding ministerial positions. These results are consistent with a rent-seeking explanation for the relatively high rate of growth in winners' assets.

Date: 2014
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