Log-rolling and economic interests in the passage of the Smoot-Hawley tariff
We analyze Senate roll-call votes concerning tariffs on specific goods in order to understand the economic and political factors influencing the passage of the Smoot-Hawley Tariff Act of 1930. Contrary to recent studies emphasizing the partisan nature of the Congressional votes, our reading of the debates in the Congressional Record suggests that the final, party-line voting masks a rich vote- trading dynamic. We estimate a logit model of specific tariff votes that permits us to identify (a) important influences of specific producer beneficiaries in each Senator's constituency and (b) log- rolling coalitions among Senators with otherwise unrelated constituency interests which succeeded in raising tariff rates.
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Volume (Year): 45 (1996)
Issue (Month): 1 (December)
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- Hayford, Marc & Pasurka, Carl Jr., 1992. "The political economy of the Fordney-McCumber and Smoot-Hawley tariff acts," Explorations in Economic History, Elsevier, vol. 29(1), pages 30-50, January.
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- Stratmann, Thomas, 1992. "The Effects of Logrolling on Congressional Voting," American Economic Review, American Economic Association, vol. 82(5), pages 1162-76, December.
- Peltzman, Sam, 1984. "Constituent Interest and Congressional Voting," Journal of Law and Economics, University of Chicago Press, vol. 27(1), pages 181-210, April.
- Robert Archibald & David Feldman & Marc Hayford & Carl Pasurka, 2000. "Effective rates of protection and the Fordney-McCumber and Smoot-Hawley Tariff Acts: comment and revised estimates," Applied Economics, Taylor & Francis Journals, vol. 32(9), pages 1223-1226.
- Stratmann, Thomas, 1995. "Logrolling in the U.S. Congress," Economic Inquiry, Western Economic Association International, vol. 33(3), pages 441-56, July.
- Barry Eichengreen, 1986. "The Political Economy of the Smoot-Hawley Tariff," NBER Working Papers 2001, National Bureau of Economic Research, Inc.
- Callahan, Colleen M. & McDonald, Judith A. & O'Brien, Anthony Patrick, 1994. "Who Voted For Smoot-Hawley?," The Journal of Economic History, Cambridge University Press, vol. 54(03), pages 683-690, September.
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