Political Business Cycles in Open Economies in 28 Developing Countries From Latin America, Asia, and Africa, 1976-2002 (ICPSR 27581)

Published: Oct 6, 2010

Principal Investigator(s):
Michael G. Hall, Wichita State University


Version V1

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.

Hall, Michael G. Political Business Cycles in Open Economies in 28 Developing Countries From Latin America, Asia, and Africa, 1976-2002. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2010-10-06. https://doi.org/10.3886/ICPSR27581.v1

Export Citation:

  • RIS (generic format for RefWorks, EndNote, etc.)
  • EndNote


1976 -- 2002

2009-05-16 -- 2009-12-30

Twenty-eight developing countries in Latin America, Asia, and Africa from 1976-2002.


International Monetary Fund (IMF), (various years), International Financial Statistics (IFS), Washington, DC.

Henisz, Witold J. (2000) "The Institutional Environment for Multinational Investment," Journal of Law, Economics and Organization 16(2), 334-364.

Chinn, Menzie and Hiro Ito (2008) "A New Measure of Financial Openness," Journal of Comparative Policy Analysis 10(3), 309-322.

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.

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.

administrative records data




  • Data in this collection are available only to users at ICPSR member institutions.

ICPSR logo

This study is provided by ICPSR. ICPSR provides leadership and training in data access, curation, and methods of analysis for a diverse and expanding social science research community.