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Political Alternation as a Restraint on Investing in Influence: Evidence from the Post-Communist Transition

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Author Info
Milanovic, Branko
Hoff, Karla
Horowitz, Shale

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Abstract

We develop and implement a method for measuring the frequency of changes in power among distinct leaders and ideologically distinct parties that is comparable across political systems. We find that more frequent alternation in power is associated with the emergence of better governance in postcommunist countries. The results are consistent with the hypothesis that firms seek durable protection from the state, which implies that expected political alternation is relevant to the decision whether to invest in influence with the governing party or, alternatively, to demand institutions that apply predictable rules, with equality of treatment, regardless of the party in power.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 11829.

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Date of creation: 30 Aug 2008
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Handle: RePEc:pra:mprapa:11829

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Related research
Keywords: Governance; transition; political alternation;

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Find related papers by JEL classification:
P37 - Economic Systems - - Socialist Institutions and Their Transitions - - - Legal
P3 - Economic Systems - - Socialist Institutions and Their Transitions

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Daniel Lederman & Norman V. Loayza & Rodrigo R. Soares, 2005. "Accountability And Corruption: Political Institutions Matter," Economics and Politics, Blackwell Publishing, vol. 17, pages 1-35, 03. [Downloadable!] (restricted)
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  2. Timothy Besley & Robin Burgess, 2002. "The Political Economy Of Government Responsiveness: Theory And Evidence From India," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1415-1451, November. [Downloadable!] (restricted)
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  3. Avinash Dixit & Gene M. Grossman & Faruk Gul, 2000. "The Dynamics of Political Compromise," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 531-568, June. [Downloadable!] (restricted)
  4. Karla Hoff & Joseph E. Stiglitz, 2004. "After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies," American Economic Review, American Economic Association, vol. 94(3), pages 753-763, June. [Downloadable!]
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  5. Irina Slinko & Evgeny Yakovlev & Ekaterina Zhuravskaya, 2004. "Laws for Sale: Evidence from Russia," Economics Working Papers 0046, Institute for Advanced Study, School of Social Science. [Downloadable!]
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  6. Robinson, James A. & Torvik, Ragnar & Verdier, Thierry, 2006. "Political foundations of the resource curse," Journal of Development Economics, Elsevier, vol. 79(2), pages 447-468, April. [Downloadable!] (restricted)
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  7. Yingyi Qian, 1999. "The Institutional Foundations of China's Market Transition," Working Papers 99011, Stanford University, Department of Economics. [Downloadable!]
  8. Robert H. Bates, 2004. "On The Politics of Property Rights by Haber, Razo, and Maurer," Journal of Economic Literature, American Economic Association, vol. 42(2), pages 494-500, June. [Downloadable!] (restricted)
  9. William M. Landes & Richard A. Posner, 1975. "The Independent Judiciary in an Interest-Group Perspective," NBER Working Papers 0110, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Hellman, Joel S. & Jones, Geraint & Kaufmann, Daniel, 2003. "Seize the state, seize the day: state capture and influence in transition economies," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 751-773, December. [Downloadable!] (restricted)
  11. Murshed, S. Mansoob, 2004. "When Does Natural Resource Abundance Lead to a Resource Curse?," Discussion Papers 24137, International Institute for Environment and Development, Environmental Economics Programme. [Downloadable!]
  12. Gradstein, Mark & Milanovic, Branko & Ying, Yvonne, 2001. "Democracy and income inequality : an empirical analysis," Policy Research Working Paper Series 2561, The World Bank. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Nauro F. Campos & Francesco Giovannoni, 2008. "Lobbying, Corruption and Other Banes," CEDI Discussion Paper Series 08-16, Centre for Economic Development and Institutions(CEDI), Brunel University. [Downloadable!]
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  2. Nauro F. Campos & Francesco Giovannoni, 2006. "Lobbying, Corruption and Political Influence," CEDI Discussion Paper Series 06-14, Centre for Economic Development and Institutions(CEDI), Brunel University. [Downloadable!]
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