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Political Business Cycles in Open Economies in 28 Developing Countries From Latin America, Asia, and Africa, 1976-2002 (ICPSR 27581)
Principal Investigator(s): Hall, Michael G., Wichita State University
This study looked at whether opportunistic and partisan business cycles influence fiscal policy in 28 developing countries when controlling for de facto exchange rate regimes and capital mobility. Several issues were investigated: 1) opportunistic business cycles, whether elections cause the governments budget balance (taxes minus spending) to experience fiscal expansion (lower taxes and higher spending) in order to stimulate the economy; 2) partisan business cycles, whether left-wing parties engage in more fiscal expansion; 3) whether growing capital mobility (the ability of financial capital to move across borders) will encourage or inhibit a government's ability to engage in fiscal expansion with an impending election or left-wing party; and 4) whether the exchange rate regime (the rules for determining the exchange rate) is a mitigating factor.
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Hall, Michael G. Political Business Cycles in Open Economies in 28 Developing Countries From Latin America, Asia, and Africa, 1976-2002. ICPSR27581-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2010-10-06. http://doi.org/10.3886/ICPSR27581.v1
Persistent URL: http://doi.org/10.3886/ICPSR27581.v1
Scope of Study
Subject Terms: business cycles, exchange rates, fiscal policy, government spending
Smallest Geographic Unit: country
Geographic Coverage: Africa, Argentina, Asia, Bolivia, Botswana, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Global, Guatemala, Honduras, India, Latin America, Lesotho, Madagascar, Mali, Mauritius, Mexico, Nicaragua, Pakistan, Panama, Papua New Guinea, Philippines, South Africa, South Korea, Thailand, Turkey, Uruguay, Venezuela
Date of Collection:
Unit of Observation: country
Universe: Twenty-eight developing countries in Latin America, Asia, and Africa from 1976-2002.
Data Types: administrative records data
Chinn, Menzie and Hiro Ito (2008) "A New Measure of Financial Openness," Journal of Comparative Policy Analysis 10(3), 309-322.
Henisz, Witold J. (2000) "The Institutional Environment for Multinational Investment," Journal of Law, Economics and Organization 16(2), 334-364.
International Monetary Fund (IMF), (various years), International Financial Statistics (IFS), Washington, DC.
Reinhart, Carmen, and Kenneth Rogoff (2004) "The Modern History of Exchange Rate Arrangements: A Reinterpretation" Quarterly Journal of Economics 119(1), 1-48. Available at http://www.wam.umd.edu/~creinhar/Papers.html.
World Bank (various years) Database of Political Indicators (DPI). Washington, DC: World Bank.
World Bank (various years) World Development Indicators (WDI). Washington, DC: World Bank.
Original ICPSR Release: 2010-10-06
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