The Economic Effects of Constitutions
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Economic Effects of Constitutions by Torsten Persson
Book DescriptionThe 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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Book DetailsISBN: 9780262661928
(229mm x 152mm x 19mm)
Imprint: MIT Press
Publisher: MIT Press Ltd
Publish Date: 15-Feb-2005
Country of Publication: United States
Books By Author Torsten Persson
Advances in Economics and Econometrics: Volume 3, Hardback (June 2007)
This volume contains 13 essays on seminal topics in economic analysis by internationally renowned academics.
Advances in Economics and Econometrics, Paperback (November 2006)
This volume contains 14 essays on seminal topics in economic analysis by internationally renowned scholars.
Political Economics, Paperback (February 2002)» View all books by Torsten Persson
Combining the best of three separate traditions--the theory of macroeconomic policy, public choice, and rational choice in political science--Torsten Persson and Guido Tabellini suggest a unified approach to the field.
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Author Biography - Torsten Persson
Torsten Persson is Director of the Institute for International Economic Studies at Stockholm University and Centennial Professor at the London School of Economics. Guido Tabellini is Professor of Economics at Bocconi University in Milan and President of the Innocenzo Gasparini Institute of Economic Research, also at Bocconi University.
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