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Quantifying the Value of a Political Connection: The Case of Presidential Elections in Colombia

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  • Daniel Vaughan

Abstract

Using a novel biographical database including all Presidents and presidential candidates in Colombia for the period 1833-2010 I show that the value of a political connection can be quantified in terms of the votes transferred within a political network. I consider three types of political networks depending on whether links are created by a cabinet or foreign service appointment and a family connection. I find that a one standard deviation increase in votes received by connections generates a maximum gain of three-fourths of a standard deviation. I also reject for the presence of network endogeneity that may bias the estimates.

Suggested Citation

  • Daniel Vaughan, 2013. "Quantifying the Value of a Political Connection: The Case of Presidential Elections in Colombia," Working Papers 2013-18, Banco de México.
  • Handle: RePEc:bdm:wpaper:2013-18
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    File URL: https://www.banxico.org.mx/publications-and-press/banco-de-mexico-working-papers/%7BFFC5D10E-1A59-AAB7-232E-32BE72C6039A%7D.pdf
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    Cited by:

    1. Esteves, Rui & Geisler Mesevage, Gabriel, 2019. "Social Networks in Economic History: Opportunities and Challenges," Explorations in Economic History, Elsevier, vol. 74(C).

    More about this item

    Keywords

    Political Networks; Political Dynasties; Economic and Political History; Colombia; Elites;

    JEL classification:

    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • N46 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Latin America; Caribbean
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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