The Economic Effects of Constitutions

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MIT Press, 2005 - Business & Economics - 306 pages
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The authors of The Economic Effects of Constitutions use econometric tools to study what they call the "missing link" between constitutional systems and economic policy; the book is an uncompromisingly empirical sequel to their previous theoretical analysis of economic policy. Taking recent theoretical work as a point of departure, they ask which theoretical findings are supported and which are contradicted by the facts. The results are based on comparisons of political institutions across countries or time, in a large sample of contemporary democracies. They find that presidential/parliamentary and majoritarian/proportional dichotomies influence several economic variables: presidential regimes induce smaller public sectors, and proportional elections lead to greater and less targeted government spending and larger budget deficits. Moreover, the details of the electoral system (such as district magnitude and ballot structure) influence corruption and structural policies toward economic growth.Persson and Tabellini's goal is to draw conclusions about the causal effects of constitutions on policy outcomes. But since constitutions are not randomly assigned to countries, how the constitutional system was selected in the first place must be taken into account. This raises challenging methodological problems, which are addressed in the book. The study is therefore important not only in its findings but also in establishing a methodology for empirical analysis in the field of comparative politics.

  

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Contents

Introduction and Overview
1
What Does Theory Say?
11
Policy Measures and Their Determinants
35
Electoral Rules and Forms of Government
73
Pitfalls and Methods
113
Variation across Countries
155
Variation across
187
Variation across Time
219
What Have We Learned?
269
Data Appendix
279
References
287
Name Index
297
Copyright

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About the author (2005)

Torsten Persson is Director of the Institute for International Economic Studies at StockholmUniversity and Centennial Professor at the London School of Economics.

Guido Tabellini is Professor of Economics at Bocconi University in Milan and President of theInnocenzo Gasparini Institute of Economic Research, also at Bocconi University.

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