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The Heterogeneous Price of a Vote: Evidence from Multiparty Systems, 1993-2017

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  • Yasmine Bekkouche

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, ULB - Université libre de Bruxelles)

  • Julia Cage

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

  • Edgard Dewitte

    (ECON - Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

Abstract

What is the impact of campaign spending on votes? Does it vary across election types, political parties or electoral settings? Estimating these effects requires comprehensive data on spending across candidates, parties and elections, as well as identification strategies that handle the endogenous and strategic nature of campaign spending in multiparty systems. This paper provides novel contributions in both of these areas. We build a new comprehensive dataset of all French legislative and UK general elections over the 1993–2017 period. We propose new empirical specifications, including a new instrument that relies on the fact that candidates are differentially affected by regulation on the source of funding on which they depend the most. We find that an increase in spending per voter consistently improves candidates' vote share, both at British and French elections, and that the effect is heterogeneous depending on candidates' party. In particular, we show that spending by radical and extreme parties has much lower returns than spending by mainstream parties, and that this can be partly explained by the social stigma attached to extreme voting. Our findings help reconcile the conflicting results of the existing literature, and improve our understanding of why campaigns matter.

Suggested Citation

  • Yasmine Bekkouche & Julia Cage & Edgard Dewitte, 2022. "The Heterogeneous Price of a Vote: Evidence from Multiparty Systems, 1993-2017," Post-Print hal-03389172, HAL.
  • Handle: RePEc:hal:journl:hal-03389172
    DOI: 10.1016/j.jpubeco.2021.104559
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03389172
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    Cited by:

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    2. repec:hal:wpspec:info:hdl:2441/1dp7827s4n8ht8fk3qhmeuvd0o is not listed on IDEAS
    3. Julia Cage & Edgard Dewitte, 2021. "It Takes Money to Make MPs: Evidence from 150 Years of British Campaign Spending," SciencePo Working papers Main hal-03384143, HAL.
    4. Julia Cagé & Moritz Hengel & Nicolas Hervé & Camille Urvoy, 2022. "Hosting Media Bias: Evidence from the Universe of French Broadcasts, 2002-2020," SciencePo Working papers Main hal-03878119, HAL.
    5. Julia Cage & Edgard Dewitte, 2022. "When Does Money Matter for Elections?," SciencePo Working papers hal-03619549, HAL.
    6. Alexandre Volle & Antoine Cazals & Bilal El Rafhi, 2023. "Another Wind of Change? Evidence about Political Outsiders in the French Parliament," Revue d'économie politique, Dalloz, vol. 133(2), pages 203-231.
    7. Julia Cage & Edgard Dewitte, 2022. "When Does Money Matter for Elections?," Post-Print hal-03619549, HAL.
    8. Julia Cagé & Malka Guillot, 2021. "Is Charitable Giving Political? Evidence from Wealth and Income Tax Returns," Working Papers hal-03877993, HAL.
    9. Julia Cage & Edgard Dewitte, 2021. "It Takes Money to Make MPs: Evidence from 150 Years of British Campaign Spending," SciencePo Working papers hal-03384143, HAL.
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    12. Balart, Pau & Casas, Agustin & Troumpounis, Orestis, 2022. "Technological change, campaign spending and polarization," Journal of Public Economics, Elsevier, vol. 211(C).
    13. Rubén Poblete Cazenave, 2021. "Reputation Shocks and Strategic Responses in Electoral Campaigns," Tinbergen Institute Discussion Papers 21-049/V, Tinbergen Institute.
    14. Julia Cage & Edgard Dewitte, 2022. "When Does Money Matter for Elections?," SciencePo Working papers Main hal-03619549, HAL.
    15. Louis-Sidois, Charles, 2024. "Buying winners," Games and Economic Behavior, Elsevier, vol. 143(C), pages 1-11.
    16. Huet-Vaughn, Emiliano, 2023. "Minimum Wages and Voting: Assessing the Political Returns to Redistribution outside the Tax System," IZA Discussion Papers 16416, Institute of Labor Economics (IZA).
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    More about this item

    Keywords

    Elections; Campaign financing; Campaign expenditures; Campaign finance reform; Multiparty electoral data; Heterogeneous effects of campaign spending;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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