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Policy Watch: Congressional Campaign Finance Reform

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  • Steven D. Levitt

Abstract

While campaign finance reform attracts a lot of attention, it seems unlikely that such reform, at least in it current guise, will have a large impact on the functioning of the American political system. Recent studies have called into question the conventional wisdom that challenger campaign spending is especially effective, suggesting that attempts to close the gap between incumbent and challenger spending will have a smaller-than-expected impact on election outcomes. While it is safe to conclude that PACs wield some influence, it is not clear that limiting cash contributions will have a substantial effect.

Suggested Citation

  • Steven D. Levitt, 1995. "Policy Watch: Congressional Campaign Finance Reform," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 183-193, Winter.
    • Handle: RePEc:aea:jecper:v:9:y:1995:i:1:p:183-93
    Note: DOI: 10.1257/jep.9.1.183
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.9.1.183
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    References listed on IDEAS

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    5. Stratmann, Thomas, 1992. "Are Contributions Rational? Untangling Strategies of Political Action Committees," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 647-664, June.
    6. Chappell, Henry W, Jr, 1982. "Campaign Contributions and Congressional Voting: A Simultaneous Probit-Tobit Model," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 77-83, February.
    7. W. Welch, 1981. "Money and votes: A simultaneous equation model," Public Choice, Springer, vol. 36(2), pages 209-234, January.
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    Cited by:

    1. Timothy Besley & Anne Case, 2003. "Political Institutions and Policy Choices: Evidence from the United States," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 7-73, March.
    2. Corinna Ahlfeld, 2010. "Reputation Sells -Compensation Payments in the Political Sphere," Departmental Discussion Papers 145, University of Goettingen, Department of Economics.
    3. Hung‐Hao Chang & Chad D. Meyerhoefer, 2023. "Do elections make you sick? Evidence from first‐time voters," Health Economics, John Wiley & Sons, Ltd., vol. 32(5), pages 1064-1083, May.
    4. 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.
    5. Prat, Andrea & Puglisi, Riccardo & Snyder, James M., 2010. "Is Private Campaign Finance a Good Thing? Estimates of the Potential Informational Benefits," Quarterly Journal of Political Science, now publishers, vol. 5(3), pages 291-318, December.
    6. Ivan Pastine & Tuvana Pastine, 2009. "Caps on Political Contributions, Monetary Penalties and Politician Preferences," Working Papers 200912, School of Economics, University College Dublin.
    7. Bryan Engelhardt & Justin Svec, 2016. "Efficient political contributions with conditional Coasian contracts," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 19(1), pages 65-76, March.
    8. Didier Laussel & Michel Le Breton, 2005. ""Favors" for Sale: Strategic Analysis of a Simple Menu Auction with Adverse Selection," Annals of Economics and Finance, Society for AEF, vol. 6(1), pages 53-73, May.
    9. Elena Panova, 2007. "Congruence Among Voters and Contributions to Political Campaigns," Cahiers de recherche 0722, CIRPEE.
    10. Christopher Magee, 2000. "Why Do Political Action Committees Give Money to Candidates? Campaign Contributions, Policy Choices, and Election Outcomes," Macroeconomics 0004038, University Library of Munich, Germany.
    11. Eugene Beaulieu & Christopher Magee, 2004. "Four Simple Tests of Campaign Contributions and Trade Policy Preferences," Economics and Politics, Wiley Blackwell, vol. 16(2), pages 163-187, July.
    12. Brian Kelleher Richter & Krislert Samphantharak & Jeffrey F. Timmons, 2009. "Lobbying and Taxes," American Journal of Political Science, John Wiley & Sons, vol. 53(4), pages 893-909, October.

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    More about this item

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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