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The Economic Effects of Constitutions Torsten Persson (Inst For Intl Economic Studies)

The Economic Effects of Constitutions By Torsten Persson (Inst For Intl Economic Studies)

The Economic Effects of Constitutions by Torsten Persson (Inst For Intl Economic Studies)


Summary

A broad empirical study of the "missing link" between constitutional systems and economic policy and outcomes.

The Economic Effects of Constitutions Summary

The Economic Effects of Constitutions by Torsten Persson (Inst For Intl Economic Studies)

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.

The Economic Effects of Constitutions Reviews

"Persson and Tabellini's The Economic Effects of Constitutions beautifully complements their earlier Political Economics. This sequel defines and makes serious empirical progress on a broad research agenda for the complex issue of how constitutional statutes (from forms of government to electoral rules) shape policy outcomes (such as the size of the welfare state and the distribution of benefits). Written by two leading contributors to modern political economy, this stimulating and very readable book is essential for all those concerned with and involved in constitutional design." Jean Tirole, IDEI, Toulouse "Democracy comes in many different forms - presidential and parliamentary, with elections based on plurality or proportional representation, and so on. Pathbreaking research by Persson and Tabellini has shown that these differences in political constitutions lead to large and systematic differences in economic outcomes. This book consolidates and extends their empirical work. It should be required reading for intellectual leaders in all countries contemplating reforms of their political institutions, and for all political scientists and economists who study such reforms."--Avinash Dixit, Sherrerd University Professor of Economics, Princeton University

About Torsten Persson (Inst For Intl Economic Studies)

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.

Additional information

CIN0262661926G
9780262661928
0262661926
The Economic Effects of Constitutions by Torsten Persson (Inst For Intl Economic Studies)
Used - Good
Paperback
MIT Press Ltd
2005-01-14
320
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - The Economic Effects of Constitutions