Political Regimes, Investment and Electoral Uncertainty
| Autor: | Sheryl-Ann Stephen, Mussie Tecklezion, Isaac Marcelin, Fassil Fanta |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
040101 forestry
050208 finance Presidential system 05 social sciences Legislature 04 agricultural and veterinary sciences Monetary economics Investment (macroeconomics) Politics General election 0502 economics and business Economics 0401 agriculture forestry and fisheries Business Management and Accounting (miscellaneous) Fixed asset Capital intensity Finance |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.3401514 |
| Popis: | This study looks at firm’s investment spending in fixed and intangible assets around three types of national elections: presidential, joint presidential and legislative, and parliamentary elections. Investment in fixed assets declines by up to 2.3% during presidential elections, and 4.43% in joint presidential and legislative elections years. On the other hand, intangible investment decreases by 4.47% in parliamentary election years. Moreover, investment responses to electoral shocks differ markedly within political systems and countries’ institutional settings. Investment levels shift significantly downward in pre- and resume in postelection years. The electoral effect results in a net loss in investment over the election cycle. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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