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Competition policy for elections: Do campaign contribution limits matter?

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  • Thomas Stratmann
  • Francisco J.
  • Aparicio-Castillo

    ()

Abstract

This paper examines whether campaign contribution restrictions have consequences for election outcomes. States are a natural laboratory to examine this issue. We analyze elections to Assemblies from 1980 to 2001 and determine whether candidates' vote shares are altered by changes in state campaign contribution restrictions. We find that limits on giving narrow the margin of victory of the winning candidate. Limits lead to closer elections for future incumbents, but have less effect on the margin of victory of incumbents who passed the campaign finance legislation. We also find some evidence that contribution limits increase the number of candidates in the race. Copyright Springer Science + Business Media, Inc. 2006

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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 127 (2006)
Issue (Month): 1 (April)
Pages: 177-206

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Handle: RePEc:kap:pubcho:v:127:y:2006:i:1:p:177-206

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Web page: http://www.springerlink.com/link.asp?id=100332

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References

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  1. Stephen Coate, 2001. "Political Competition with Campaign Contributions and Informative Advertising," NBER Working Papers 8693, National Bureau of Economic Research, Inc.
  2. Stratmann, Thomas, 1995. "Campaign Contributions and Congressional Voting: Does the Timing of Contributions Matter?," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 127-36, February.
  3. Stratmann, Thomas, 1992. "Are Contributions Rational? Untangling Strategies of Political Action Committees," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 647-64, June.
  4. Christian Schultz & Ignacio Ortuno-OrtÍn, 2000. "Public Funding of Political Parties," CESifo Working Paper Series 368, CESifo Group Munich.
  5. Joshua Angrist, 1988. "Grouped Data Estimation and Testing in Simple Labor Supply Models," Working Papers 614, Princeton University, Department of Economics, Industrial Relations Section..
  6. Randall S. Kroszner & Thomas Stratmann, 1996. "Interest Group Competition and the Organization of Congress:Theory And Evidence from Financial Services Political Action Committees," University of Chicago - George G. Stigler Center for Study of Economy and State 126, Chicago - Center for Study of Economy and State.
  7. Potters, Jan & Sloof, Randolph & van Winden, Frans, 1997. "Campaign expenditures, contributions and direct endorsements: The strategic use of information and money to influence voter behavior," European Journal of Political Economy, Elsevier, vol. 13(1), pages 1-31, February.
  8. Prat, Andrea, 2002. "Campaign Advertising and Voter Welfare," Review of Economic Studies, Wiley Blackwell, vol. 69(4), pages 999-1017, October.
  9. Mueller, Dennis C & Stratmann, Thomas, 1994. " Informative and Persuasive Campaigning," Public Choice, Springer, vol. 81(1-2), pages 55-77, October.
  10. Prat, Andrea, 2002. "Campaign Spending with Office-Seeking Politicians, Rational Voters, and Multiple Lobbies," Journal of Economic Theory, Elsevier, vol. 103(1), pages 162-189, March.
  11. Bronars, Stephen G & Lott, John R, Jr, 1997. "Do Campaign Donations Alter How a Politician Votes? Or, Do Donors Support Candidates Who Value the Same Things That They Do?," Journal of Law and Economics, University of Chicago Press, vol. 40(2), pages 317-50, October.
  12. Jeffrey Milyo, 1997. "The economics of political campaign finance: FECA and the puzzle of the not very greedy grandfathers," Public Choice, Springer, vol. 93(3), pages 245-270, December.
  13. Grier, Kevin B & Munger, Michael C, 1991. "Committee Assignments, Constituent Preferences, and Campaign Contributions," Economic Inquiry, Western Economic Association International, vol. 29(1), pages 24-43, January.
  14. Milyo, Jeffrey & Groseclose, Timothy, 1999. "The Electoral Effects of Incumbent Wealth," Journal of Law and Economics, University of Chicago Press, vol. 42(2), pages 699-722, October.
  15. Stephen Coate, 2004. "Pareto-Improving Campaign Finance Policy," American Economic Review, American Economic Association, vol. 94(3), pages 628-655, June.
  16. Snyder, James M, Jr, 1992. "Long-Term Investing in Politicians; or, Give Early, Give Often," Journal of Law and Economics, University of Chicago Press, vol. 35(1), pages 15-43, April.
  17. Stratmann, Thomas, 1998. "The Market for Congressional Votes: Is Timing of Contributions Everything?," Journal of Law and Economics, University of Chicago Press, vol. 41(1), pages 85-113, April.
  18. Stephen Ansolabehere & John M. de Figueiredo & James M. Snyder Jr, 2003. "Why is There so Little Money in U.S. Politics?," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 105-130, Winter.
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Citations

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Cited by:
  1. Jeffrey Milyo & David M. Primo, 2005. "Campaign Finance Laws and Political Efficacy: Evidence From the States," Working Papers 0513, Department of Economics, University of Missouri.
  2. Ujhelyi, Gergely, 2009. "Campaign finance regulation with competing interest groups," Journal of Public Economics, Elsevier, vol. 93(3-4), pages 373-391, April.
  3. John Lott, 2006. "Campaign finance reform and electoral competition," Public Choice, Springer, vol. 129(3), pages 263-300, December.
  4. Thomas Stratmann, 2005. "Some talk: Money in politics. A (partial) review of the literature," Public Choice, Springer, vol. 124(1), pages 135-156, July.
  5. repec:hal:cesptp:hal-00126910 is not listed on IDEAS
  6. John Maloney & Andrew Pickering, 2013. "Political Competition, Political Donations, Economic Policy and Growth," Discussion Papers 13/21, Department of Economics, University of York.
  7. repec:hal:journl:hal-00126910 is not listed on IDEAS
  8. Thomas Stratmann, 2006. "Contribution limits and the effectiveness of campaign spending," Public Choice, Springer, vol. 129(3), pages 461-474, December.
  9. Drazen, Allan & Limao, Nuno & Stratmann, Thomas, 2007. "Political contribution caps and lobby formation: Theory and evidence," Journal of Public Economics, Elsevier, vol. 91(3-4), pages 723-754, April.
  10. Ivan Pastine & Tuvana Pastine, 2009. "Caps on Political Contributions, Monetary Penalties and Politician Preferences," Working Papers 200912, School Of Economics, University College Dublin.
  11. Konrad, Kai A., 2010. "Information alliances in contests with budget limits," Discussion Papers, Research Professorship & Project "The Future of Fiscal Federalism" SP II 2010-21, Social Science Research Center Berlin (WZB).
  12. Tim Besley, 2002. "Political institutions and policy choices: evidence from the United States," IFS Working Papers W02/13, Institute for Fiscal Studies.
  13. Jürgen Huber & Michael Kirchler, 2013. "Corporate campaign contributions and abnormal stock returns after presidential elections," Public Choice, Springer, vol. 156(1), pages 285-307, July.
  14. Thomas Stratmann, 2003. "Tainted Money? Contribution Limits and the Effectiveness of Campaign Spending," CESifo Working Paper Series 1044, CESifo Group Munich.
  15. Klumpp, Tilman & Mialon, Hugo & Williams, Michael, 2012. "Money Talks: The Impact of Citizens United on State Elections," Working Papers 2012-18, University of Alberta, Department of Economics, revised 01 Sep 2012.
  16. Elena Panova, 2007. "Congruence Among Voters and Contributions to Political Campaigns," Cahiers de recherche 0722, CIRPEE.
  17. Ivan Pastine & Tuvana Pastine, 2010. "Politician preferences, law-abiding lobbyists and caps on political contributions," Public Choice, Springer, vol. 145(1), pages 81-101, October.

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