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Election induced fiscal and monetary cycles:evidence from the Caribbean

Author

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  • Amos C. Peters

    (University of North Carolina at Chapel Hill, USA)

Abstract

This study examines whether governments in the Caribbean systematically attempt to alter voter preferences through the use of fiscal and monetary policy tools during election periods. It also investigates whether governments reverse their pre-election excesses in the year after a general election. I estimate a variant of the Nordhaus politico-economic model for selected Caribbean countries. The Arellano-Bond dynamic panel estimator is employed to empirically test this model, and the results indicate that there is evidence to suggest that Caribbean governments pursue electorally timed interventions in fiscal and monetary instruments but do not reverse their policies in the aftermath of an election.

Suggested Citation

  • Amos C. Peters, 2010. "Election induced fiscal and monetary cycles:evidence from the Caribbean," Journal of Developing Areas, Tennessee State University, College of Business, vol. 44(1), pages 287-303, September.
    • Handle: RePEc:jda:journl:vol.44:year:2011:issue1:pp:287-303
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    Citations

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    Cited by:

    1. Ha, Eunyoung & Kang, Myung-koo, 2015. "Government Policy Responses to Financial Crises: Identifying Patterns and Policy Origins in Developing Countries," World Development, Elsevier, vol. 68(C), pages 264-281.
    2. Fi̇li̇z Eryilmaz & Mehmet Mercan, 2015. "Political Budget Cycles: Evidence From Turkey," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 5-14, April.
    3. Duygun, Meryem & Ozturk, Huseyin & Shaban, Mohamed, 2016. "The role of sovereign credit ratings in fiscal discipline," Emerging Markets Review, Elsevier, vol. 27(C), pages 197-216.

    More about this item

    Keywords

    Political business cycles; Caribbean; Dynamic Panel GMM estimator;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • P26 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Property Rights

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