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Turnover In Power As A Restraint On Investing In Influence: Evidence From The Postcommunist Transition

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  • BRANKO MILANOVIC
  • KARLA HOFF
  • SHALE HOROWITZ

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 in the postcommunist countries, more frequent changes in power in the early years of transition are associated with better governance in the later years. The results are consistent with the hypothesis that more frequent turnover in power lowers the returns to firms seeking to buy political influence: i.e. that government turnover serves as a restraint on investing in influence regardless of the ideology of the government. Copyright 2010 Blackwell Publishing Ltd.

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  • Branko Milanovic & Karla Hoff & Shale Horowitz, 2010. "Turnover In Power As A Restraint On Investing In Influence: Evidence From The Postcommunist Transition," Economics and Politics, Wiley Blackwell, vol. 22(3), pages 329-361, November.
  • Handle: RePEc:bla:ecopol:v:22:y:2010:i:3:p:329-361
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    References listed on IDEAS

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    1. 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.
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    7. Filipe R. Campante & Davin Chor & Quoc-Anh Do, 2009. "Instability And The Incentives For Corruption," Economics and Politics, Wiley Blackwell, vol. 21(1), pages 42-92, March.
    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.
    9. Varese, Federico, 2001. "The Russian Mafia: Private Protection in a New Market Economy," OUP Catalogue, Oxford University Press, number 9780198297369.
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