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The Private Returns to Public Office

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Listed:
  • Raymond Fisman
  • Florian Schulz
  • Vikrant Vig

Abstract

We study the wealth accumulation of Indian state politicians using public disclosures required of all candidates. The annual asset growth of winners is 3-5 percent higher than that of runners-up, a difference that holds also in a set of close elections. The relative asset growth of winners is greater in more corrupt states and for those holding ministerial positions. These results are consistent with a rent-seeking explanation for the relatively high rate of growth in winners' assets.

Suggested Citation

  • Raymond Fisman & Florian Schulz & Vikrant Vig, 2014. "The Private Returns to Public Office," Journal of Political Economy, University of Chicago Press, vol. 122(4), pages 806-862.
  • Handle: RePEc:ucp:jpolec:doi:10.1086/676334
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    1. repec:ces:ifodic:v:13:y:2015:i:3:p:19173857 is not listed on IDEAS
    2. Kaisa Kotakorpi & Panu Poutvaara & Marko Tervio, 2013. "Returns to office in national and local politics," Discussion Papers 86, Aboa Centre for Economics.
    3. Jonathan Lehne & Jacob N. Shapiro & Oliver Vanden Eynde, 2016. "Building connections: Political corruption and road construction in India," Working Papers halshs-01349350, HAL.
    4. Nishith Prakash & Marc Rockmore & Yogesh Uppal, 2014. "Do Criminally Accused Politicians Affect Economic Outcomes? Evidence from India," HiCN Working Papers 192, Households in Conflict Network.
    5. Lehne, Jonathan & Shapiro, Jacob N. & Vanden Eynde, Oliver, 2018. "Building connections: Political corruption and road construction in India," Journal of Development Economics, Elsevier, vol. 131(C), pages 62-78.
    6. Baskaran, Thushyanthan & Bhalotra, Sonia R. & Min, Brian & Uppal, Yogesh, 2018. "Women Legislators and Economic Performance," IZA Discussion Papers 11596, Institute for the Study of Labor (IZA).
    7. Chowdhury Mohammad Sakib Anwar & Alexander Matros & Sonali Sen Gupta, 2018. "Tax Evasion, Embezzlement and Public Good Provision," Working Papers 232397285, Lancaster University Management School, Economics Department.
    8. Eric Avis & Claudio Ferraz & Frederico Finan, 2016. "Do Government Audits Reduce Corruption? Estimating the Impacts of Exposing Corrupt Politicians," Textos para discussão 652, Department of Economics PUC-Rio (Brazil).
    9. Mark A. Zupan, 2015. "Rent-Seeking on the Supply Side of Politics," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 13(3), pages 06-14, October.
    10. Björn Kauder & Manuela Krause & Niklas Potrafke, 2018. "Electoral cycles in MPs’ salaries: evidence from the German states," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(4), pages 981-1000, August.
    11. Duha T. Altindag & Naci Mocan, 2015. "Mobile Politicians: Opportunistic Career Moves and Moral Hazard," NBER Working Papers 21438, National Bureau of Economic Research, Inc.
    12. Kai Gehring & T. Florian Kauffeldt & Krishna Chaitanya Vadlamannati, 2015. "Crime, Incentives and Political Effort: A Model and Empirical Application for India," Courant Research Centre: Poverty, Equity and Growth - Discussion Papers 170, Courant Research Centre PEG.
    13. Prasenjit Banerjee & Vegard Iversen & Sandip Mitra & Antonio Nicolò & Kunal Sen, 2018. "Politicians and their promises in an uncertain world: Evidence from a lab-in-the-field experiment in India," The School of Economics Discussion Paper Series 1806, Economics, The University of Manchester.
    14. Federico Quaresima & Fabio Fiorillo, 2017. "The patronage effect: a theoretical perspective of patronage and political selection," Working papers 63, Società Italiana di Economia Pubblica.
    15. Banerjee, Abhijit & Duflo, Esther & Imbert, Clement & Mathew, Santosh & Pande, Rohini, 2016. "E-Governance, Accountability, and Leakage in Public Programs: Experimental Evidence from a Financial Management Reform in India," Working Paper Series rwp16-056, Harvard University, John F. Kennedy School of Government.
    16. Ahmed Tahoun & Florin P. Vasvari, 2016. "Political Lending," Working Papers Series 47, Institute for New Economic Thinking.

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