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Political Business Cycle in Czech Municipalities

  • Lucie Sedmihradská
  • Rudolf Kubík
  • Jakub Haas

The paper examines the political business cycle at the municipal level in the Czech Republic using data for 205 municipalities in the period 2001-2007. We introduce empirical models based on fixed-effects panel data regression testing the capital and current expenditure manipulation prior to elections. The results indicate significant increase in capital expenditures and significant decrease in current expenditures prior to elections. At the same time the manipulation with capital expenditures does not increase the probability of re-election for the incumbents in the Czech municipalities.

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Article provided by University of Economics, Prague in its journal Prague Economic Papers.

Volume (Year): 2011 (2011)
Issue (Month): 1 ()
Pages: 59-70

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Handle: RePEc:prg:jnlpep:v:2011:y:2011:i:1:id:387:p:59-70
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  1. William D. Nordhaus, 1989. "Alternative Approaches to the Political Business Cycle," Cowles Foundation Discussion Papers 927, Cowles Foundation for Research in Economics, Yale University.
  2. Rodrigo Cerda & Rodrigo Vergara, 2007. "Business cycle and political election outcomes: Evidence from the Chilean democracy," Public Choice, Springer, vol. 132(1), pages 125-136, July.
  3. Rogoff, Kenneth, 1990. "Equilibrium Political Budget Cycles," American Economic Review, American Economic Association, vol. 80(1), pages 21-36, March.
  4. Veiga, Linda G. & Veiga, Francisco Jose, 2007. "Does opportunism pay off?," Economics Letters, Elsevier, vol. 96(2), pages 177-182, August.
  5. Arellano, Manuel, 2003. "Panel Data Econometrics," OUP Catalogue, Oxford University Press, number 9780199245291, March.
  6. Linda Veiga & Francisco Veiga, 2004. "Political business cycles at the municipal level," ERSA conference papers ersa04p427, European Regional Science Association.
  7. Sakurai, Sergio N. & Menezes, Naercio A., 2008. "Fiscal policy and reelection in Brazilian municipalities," Insper Working Papers wpe_117, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
  8. Rosenberg, Jacob, 1992. " Rationality and the Political Business Cycle: The Case of Local Government," Public Choice, Springer, vol. 73(1), pages 71-81, January.
  9. Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Wiley Blackwell, vol. 42(2), pages 169-90, April.
  10. Akhmed Akhmedov & Ekaterina Zhuravskaya, 2004. "Opportunistic Political Cycles: Test in a Young Democracy Setting," Economics Working Papers 0047, Institute for Advanced Study, School of Social Science.
  11. L. Wade, 1988. "Review," Public Choice, Springer, vol. 58(1), pages 99-100, July.
  12. Philip Hemmings, 2006. "Improving Public-spending Efficiency in Czech Regions and Municipalities," OECD Economics Department Working Papers 499, OECD Publishing.
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